A liability is anything that is a hindrance or puts an individual or group at a disadvantage.
Liability may also refer to:
- legal liability
- public liability Public liability is part of the law of tort which focuses on civil wrongs. An applicant usually sues the respondent (the owner or occupier) under common law based on negligence and/or damages. Claims are usually successful when it can be shown that the owner/occupier was responsible for an injury, therefore they breached their duty of care
Finance
- accrued liabilities Accrued liabilities are liabilities which have occurred, but have not been paid or logged under accounts payable during an accounting period; in other words, obligations for goods and services provided to a company for which invoices have not yet been received. Examples would include accrued wages payable, accrued sales tax payable, and accrued
- current liability
- liability (financial accounting), an obligation of an entity arising from past transactions or events
- long-term liabilities Examples of long-term liabilities are debentures, mortgage loans and other bank loans
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