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Is dept an asset liability or an expense?
Debt is a liability for business as it is taken from third parties for running business and refundable to third parties on the event of liquidation or maturity date whichever come first.
What is liabilities?
liability is a debt.
What is the difference between a debt and a liability?
A liability is generally anything that costs you money. A phone bill is a liability. A debt is a kind of liability. You can take out a loan for a car- that is a debt; something owed in the future.
Does credit card debt expire?
Credit card debt does not expire. If collection for the debt becomes a liability, then the creditor can write off the debt as a total loss or warrant a reposession of property, but the debt itself will never expire on its own.
Is long term debt an operating liability?
NO. But the Current maturities of long-term debt is an operating liability.
How do you spell liability?
That is the correct spelling of "liability" (responsibility, debt, or burden).
What is another word for liability?
Debt
What type of liability so stockholders have when it comes to corporate debt ad responsibility?
what type of liability do stockholders have when it comes to corporate debt and responsibility
Is allowance for doubtful debt a current liability?
no
Is short term debt a current liability?
Yes short term debt is a current liability for business and payable normally within one fiscal year and shown under current liability section of liability side of balance sheet.
How is debt expressed on a balance sheet?
Debt is shown in liability side of balance sheet as per the payment time duration if within one year then current liability otherwise long term liability.
What if the collector ingnores a request to validate the debt?
Without valid debt there can not be liability. In amity.
