Series 65: 1.4.1.2.2. Liabilities

Taken from our Series 65 Online Guide

1.4.1.2.2. Liabilities

Liabilities are what a company owes to others. Like assets, liabilities can be divided into current liabilities and long-term liabilities. Current liabilities are debts that will be paid back within a year. Current liabilities include:

Accounts payable—amount that is owed to suppliers

Accrued expenses—wages, taxes and interest that have accrued but have not yet been paid

Short-term notes

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