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Liabilities: meaning, definitions and examples

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liabilities

 

[ ˌlaɪəˈbɪlɪtiz ]

Noun
Context #1 | Noun

financial accounting

Liabilities are debts or obligations that a company owes to outside parties. These can include loans, accounts payable, accrued expenses, bonds, and other financial obligations.

Synonyms

debts, indebtedness, obligations

Examples of usage

  • Companies must carefully manage their liabilities to ensure they can meet their financial obligations.
  • Long-term liabilities are debts that are due beyond one year.
  • Accounts payable is a common type of liability found on a company's balance sheet.

Translations

Translations of the word "liabilities" in other languages:

🇵🇹 responsabilidades

🇮🇳 दायित्व

🇩🇪 Verbindlichkeiten

🇮🇩 kewajiban

🇺🇦 зобов'язання

🇵🇱 zobowiązania

🇯🇵 負債

🇫🇷 passifs

🇪🇸 responsabilidades

🇹🇷 yükümlülükler

🇰🇷 부채

🇸🇦 الالتزامات

🇨🇿 závazky

🇸🇰 záväzky

🇨🇳 负债

🇸🇮 obveznosti

🇮🇸 skuldir

🇰🇿 міндеттемелер

🇬🇪 ვალდებულებები

🇦🇿 öhdəliklər

🇲🇽 responsabilidades

Etymology

The word 'liabilities' originated from the Middle English word 'liabilite', which came from the Old French 'liable', meaning 'bound or obligated'. The concept of liabilities in accounting has been crucial for businesses to track their financial obligations and manage their debt effectively.

See also: liable.

Word Frequency Rank

Ranking #3,939, this word is part of upper-intermediate vocabulary. While not among the most basic terms, it appears often enough to be valuable for advanced communication.