What Are Liabilities?

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2025-09-20 11:15:59 -

Liabilities are financial obligations a business or individual owes to others, like debts or commitments to pay for goods, services, or loans. Think of them as money you’re responsible for paying back, whether now or later. In Accounting Services in Miami, liabilities are a key part of understanding a business’s financial health, showing up on the balance sheet alongside assets and...

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