Series 79: Liabilities

Taken from our Series 79 Top-off Online Guide

Liabilities

A liability of a company is any financial obligation the company owes to someone else, including debt, taxes, payroll, accounts payable, and future obligations to provide services or deliver goods. Like assets, liabilities in a balance sheet are classed as current or long-term.

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Solomon Exam Prep Study Materials for the Series 79
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