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What is the difference between liability …

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What is the difference between liability and credit

Posted by Kohi ❣️ 6 years, 6 months ago

CBSE > Class 11 > Business Studies

3 answers

Kohi ❣️ 6 years, 6 months ago

Thanks

Raj Aman 6 years, 6 months ago

Liabilities are obligation or debt that can enterprises has to pay after sometime in the future.

Harmeet Singh Harry 6 years, 6 months ago

Liability is the money which is pay by business. Current Liabilities are those which paid within the year For ex.Short Loan,Bill payable. Non Current Liabilities are those which money paid after time period.For ex.Long loan .. Credit are those Who take Loan from Debitor(seller)

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