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In financial accounting, a liability is a quantity of value that a financial entity owes. More technically, it is value that an entity is expected to deliver in the future to satisfy a present obligation arising from past events. [1] The value delivered to settle a liability may be in the form of assets transferred or services performed.
Likewise, in the liability account below, the X in the credit column denotes the increasing effect on the liability account balance (total credits less total debits), because a credit to a liability account is an increase. All "mini-ledgers" in this section show standard increasing attributes for the five elements of accounting.
"Accountability" derives from the late Latin accomptare (to account), a prefixed form of computare (to calculate), which in turn is derived from putare (to reckon). [6] While the word itself does not appear in English until its use in 13th century Norman England, [7] the concept of account-giving has ancient roots in record-keeping activities related to governance and money-lending systems ...
In bookkeeping, a general ledger is a bookkeeping ledger in which accounting data are posted from journals and aggregated from subledgers, such as accounts payable, accounts receivable, cash management, fixed assets, purchasing and projects. [1] A general ledger may be maintained on paper, on a computer, or in the cloud. [2]
Language learning program Pimsleur says that some Brazilians believe that it is good luck if you can hop seven waves at midnight. Each wave jumped over head-on is thought to grant the jumper a wish.
Liability (financial accounting) a current obligation of an entity arising from past transactions or events Accrued liabilities and contingent liability; Current liability, or short-term liabilities are obligations that will be settled by current assets or by the creation of new current liabilities
The U.S. Preventive Services Task Force released a draft recommendation advising against using vitamin D to prevent falls and fractures in people over 60. Pharmacist Katy Dubinsky weighs in.
Sri Suryaraya Andhra Nighantuvu is a Telugu language dictionary. It is the most comprehensive monolingual Telugu dictionary. [1] It was published in eight volumes between 1936 and 1974. [2] [3] It was named after Rao Venkata Kumara Mahipati Surya Rau, the zamindar of Pitapuram Estate who sponsored the first four volumes of the dictionary. [4] [5]