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Liabilities

   Also found in: Dictionary/thesaurus, Medical, Legal, Financial, Wikipedia 0.01 sec.
Liabilities 

one of the two sides of a bookkeeping balance; the liabilities side describes the sources from which a socialist enterprise or organization derives its capital and characterizes the composition, designated purposes, and actual disposition of the capital.

The liabilities side of the balance consists of five principal sections. The sources of an enterprise’s own assets and equivalent assets are shown in section A. Section B lists bank credits for circulating capital for which norms are set. Section C indicates various bank credits, payments, and other liabilities. Section D indicates the sources of assets for capital construction, and section E records the financing of outlays for formation of the basic livestock herd.



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She knew every farmer for miles about: how much land he had under cultivation, how many cattle he was feeding, what his liabilities were.
This done, there were actually left, between that time and Christmas, liabilities to be met to the extent of forty thousand pounds, without a farthing in hand to pay that formidable debt.
The Englishman entered, and found Morrel seated at a table, turning over the formidable columns of his ledger, which contained the list of his liabilities.
 
 
 
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