That amount which business organisations have to pay up to external members is known as a liability.

These are:

  • Bank overdraft
  • Capital
  • Outstanding expenses
  • Reserve Fund
  • Debenture
  • Deposits
  • Incomes that has been received in advance
  • Those expenses that are due but final payment has not been made
  • Sundry creditors
  • Mortgage loans
  • Payable bills
  • Proposed Dividend
  • Taxation


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