- business obligations incurred but not discharged and entered as claims on the assets shown on the balance sheet
Compare assets
Collins Concise English Dictionary © HarperCollins Publishers::
liabilities /ˌlaɪəˈbɪlɪtɪz/ pl n
li•a•bil•i•ty /ˌlaɪəˈbɪlɪti/USA pronunciation
n., pl. -ties.
WordReference Random House Unabridged Dictionary of American English © 2026- Business liabilities, [plural] money owed;
debts (opposed to assets):a company's huge liabilities. - something that is a disadvantage:[countable]His lack of education is a liability.
- [uncountable] the state or quality of being liable.
li•a•bil•i•ty
(lī′ə bil′i tē),USA pronunciation n., pl. -ties.
- liabilities:
- moneys owed;
debts or pecuniary obligations (opposed to assets). - Business[Accountableing.]liabilities as detailed on a balance sheet, esp. in relation to assets and capital.
- moneys owed;
- something disadvantageous:His lack of education is his biggest liability.
- Also, li′a•ble•ness. the state or quality of being liable:liability to disease.
- li(able) + -ability 1785–95
'liabilities' also found in these entries (note: many are not synonyms or translations):
accounting
- assets
- asset value
- book value
- capital
- capital account
- corporation
- deficit
- first mortgage
- heir
- indemnity
- insolvent
- lame duck
- liquidate
- liquidation
- net asset value
- reserve
- surplus
- swap
- working capital
- acid test ratio
- asset
- bank statement
- capitalization
- coverage
- current liabilities
- current ratio
- dissolution
- immunity
- liability
- net assets
- privilege
- xcl
- severance
- spread
- sum