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LIABILITIES

/ˌlaɪ əˈbɪl ɪ teez/

noun

  • Liabilities include accounts payable (money you owe to suppliers), plus all current costs of doing business (mortgage payments, insurance, taxes, salaries, utilities).
Example Sentences:The business has liabilities of $2 million.
If our liabilities increase further, we’ll have to consider closing down the company.
 
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