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Sep 5, 2016 · Definition of Liability. Noun. The state of being liable, or responsible, for something. An obligation, debt, or responsibility. Something that serves as a hindrance or disadvantage. Origin of Liable (base word) 1535-1545 Anglo-French lier (to bind)
4 meanings: 1. the state of being liable 2. a financial obligation 3. a hindrance or disadvantage 4. likelihood or probability.... Click for more definitions.
LIABLE definition: 1. having (legal) responsibility for something or someone: 2. very likely to do something: 3…. Learn more.
A liability is an obligation of a company that results in the company’s future sacrifices of economic benefits to other entities or businesses. A liability, like debt, can be an alternative to equity as a source of a company’s financing. Moreover, some liabilities, such as accounts payable or income taxes payable, are essential parts of day ...
In accounting and finance, a Liability is a legal debt or obligation that an entity must pay back. An entity could be, for example, a person or a company. Assets are what a company owns, while liabilities are what it owes. The International Accounting Standards Board’s (IASB’s) definition of a liability is currently the most widely accepted.
2 [countable, usually singular] (informal) a person or thing that causes you a lot of problems Since his injury, Jones has become more of a liability than an asset to the team. 3 [ countable , usually plural ] the amount of money that a person or company owes The company is reported to have liabilities of nearly $90 ,000.
Define liability. liability synonyms, liability pronunciation, liability translation, English dictionary definition of liability. n. pl. li·a·bil·i·ties 1. The ...
