Hashtecks

Accounting

What are Liabilities, Definition, Uses, Examples and Explanation

Liability is a financial term that refers to a company’s legal debts or obligations that arise from past transactions or events. In other words, liabilities represent the amount of money that a company owes to others, such as creditors or lenders. There are several types of liabilities: Liabilities are considered to be opposite of assets, …

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What are Expenses, Definition, uses and examples

Expenses are an integral part of any business operation and play a crucial role in determining a company’s financial health. In order to generate revenue, businesses must incur costs that are known as expenses. In this article, we will define expenses, discuss the different types of expenses, and explore the importance of managing expenses effectively. …

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