LIABILITY

Liability

In financial accounting, a liability is defined as an obligation of an entity arising from past transactions or events, the settlement of which may result in the transfer or use of assets, provision of services or other yielding of economic benefits in the future.

The above text is a snippet from Wikipedia: Liability (financial accounting)
and as such is available under the Creative Commons Attribution/Share-Alike License.

liability

Noun

  1. the condition of being liable
  2. an obligation, debt or responsibility owed to someone.
  3. a handicap that holds one back
  4. the likelihood of something happening


The above text is a snippet from Wiktionary: liability
and as such is available under the Creative Commons Attribution/Share-Alike License.

Need help with a clue?
Try your search in the crossword dictionary!