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Posted on February 7, 2023 by Srinu Kalyan

What are Liabilities?

Last Updated: July 2026 | Reading Time: 1 minute

Assets and liabilities can be contrasted. Liabilities are things you owe or have borrowed, whereas assets are things you own or are owed. Liabilities are elements that are listed on the balance sheet’s right side and consist of debts including loans, accounts payable, accumulated expenses, etc.

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Srinu Kalyan

Srinu Kalyan

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