Liabilities

Any claim for money against the assets of a company, such as bills of creditors, income tax payable, debenture redemption, interest on secured and unsecured loans, etc. Although on balance sheet shareholder’s equity is shown under liability, it has no claim on the assets of a company, unless it goes into liquidation.
Originally written on December 8, 2010 and last modified on January 19, 2018.

1 Comment

  1. ARYANDEV

    March 29, 2012 at 12:57 pm

    nice article for bank exam
    thanks ,

    Reply

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