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What does liabilities mean?

Looking for the meaning or definition of the word liabilities? Here's what it means.

Noun
  1. plural of liability
  2. (finance) An amount of money in a company that is owed to someone and has to be paid in the future, such as tax, debt, interest, and mortgage payments.
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Examples
An increase in accounts payable and liabilities owed to members fed the increase in current liabilities.
It confirmed the existing boundary and released the Free State from the significant financial liabilities it had incurred under the Treaty.
Current liabilities include short-term debt, interest, accounts payable and any other outstanding liabilities that are due within a year's time.
A further objective is to encourage withholders who cannot remit deductions by the due dates to notify us of the existence of liabilities.
An unanticipated decline in the price level increases the value of firms' liabilities in real terms.
Loans to scheme members or to the employer are disallowed and, finally, a scheme's assets and liabilities must balance at all times.

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