List Of Definition Liability Accounting References
List Of Definition Liability Accounting References . Liability accounts appear in a firm’s general ledger, and are aggregated into the liability. In more direct terms, it is a payment or obligation for which a company is held. Current Liabilities Definition & Example from www.investopedia.com An accountant's legal liability while performing professional duties. In accounting and finance, a liability is a legal debt or obligation that an entity must pay back. Liability accounts appear in a firm’s general ledger, and are aggregated into the liability.