Example of a Liability?

Give an example of a liability.

Comments for Example of a Liability?

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Answer
by: Mahima

Capital
Account payable
Loan
Outstanding expenses
Creditor

Mahima, everything you wrote above in your answer is correct as a liability except Capital. Capital is definitely not a liability. Capital is owner's equity.

- Michael

Liability
by: Christian

Anything that is owed to outsiders can be classified as a liability.

Examples: bank loan, expenses owing, revenue prepayment, accounts payable, etc.

Examples for Liability
by: yasser hegaz

Accounts payable
Accrued expenses
Prepaid revenue
Loan

Opinion
by: Anonymous

When you borrow money from a bank is an example of a liability.

liability
by: petse

anything which is a debt. E.g loan, even a credit card can be liability even when it does have some benefits.

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Liability Example

Please provide an example of a liability.

A loan from the bank. This is a debt your business owes. A liability.

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