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प्रश्न
Explain Liability.
थोडक्यात उत्तर
उत्तर
- A liability is a financial responsibility or debt that an individual, company, or organization owes to another party.
- Liabilities are the result of previous transactions or events and indicate future sacrifices of economic advantages that the company must make in order to settle the debt.
- Liabilities are an important component of a balance sheet because they allow us to analyse a company's financial health and risk.
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Classification of Assets and Liabilities
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संबंधित प्रश्न
What are liquid assets?
What are contingent liabilities?
Give two examples of fictitious assets.
Mention two contingent liabilities.
Give a classification of assets.
Give a classification of liabilities.
Give one example of fictitious assets.
Give one difference between fixed assets and current assets.
Name the different types of liabilities.
Explain Asset.
