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In [[accounting]], a liability is the financial obligation of a business which, at present, has not been paid.
In [[accounting]], a '''liability''' is the financial obligation of a business which, at present, has not been paid.
Common examples of liabilities include accounts payable to vendors who supply goods to be resold or used in manufacturing, taxes owed to governmental entities, deferred wages, leases (operating and capital), and mortgages and bond instruments.
Common examples of liabilities include accounts payable to vendors who supply goods to be resold or used in manufacturing, taxes owed to governmental entities, deferred wages, leases (operating and capital), and mortgages and bond instruments.