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A '''liability''' can mean something that is a hindrance or puts an individual or group at a disadvantage, or something that someone is responsible for, or something that increases the chance of something occurring (i.e. it is a cause). | A '''liability''' can mean something that is a hindrance or puts an individual or group at a disadvantage, or something that someone is responsible for, or something that increases the chance of something occurring (i.e. it is a cause). | ||
'''Liability''' may also refer in specific fields to: |
'''Liability''' may also refer in specific fields to: | ||
* ], the legal bound obligation to pay debts | * ], the legal bound obligation to pay debts | ||
* ], part of the law of tort which focuses on civil wrongs |
* ], part of the law of tort which focuses on civil wrongs | ||
== Finance == | |||
* ], a current obligation of an entity arising from past transactions or events | * ], a current obligation of an entity arising from past transactions or events | ||
* Accrued liabilities and ] | * Accrued liabilities and ] |
Revision as of 21:54, 14 September 2012
A liability can mean something that is a hindrance or puts an individual or group at a disadvantage, or something that someone is responsible for, or something that increases the chance of something occurring (i.e. it is a cause).
Liability may also refer in specific fields to:
- legal liability, the legal bound obligation to pay debts
- public liability, part of the law of tort which focuses on civil wrongs
Finance
- liability (financial accounting), a current obligation of an entity arising from past transactions or events
- Accrued liabilities and contingent liability
- Current liability
- Long-term liabilities, liabilities with a future benefit over one year
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