2 years ago

What are financial obligations or money that a business needs to pay others in the future called?

Business

1 answer:

garik1379 [7]2 years ago

6 0

Answer:

Liabilities

Explanation:

In economic terms, liabilities are the obligations that are to be paid by one authority to another in the future. They are owned by the company which is left to be settled in the future. The liabilities can be paid off through the means of money, goods, or services. They also include loans, revenues, and accrued expenses.

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