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Write an example of liability accounts

User Doronz
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Ex: A liability account is used to store all legally binding obligations payable to a third party.

User Sourcey
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or example, if a business takes out a mortgage payable over a 15-year period, that is a long-term liability. ... Some examples of short-term liabilities include payroll expenses and accounts payable, which include money owed to vendors, monthly utilities, and similar expenses.
User Zabeltech
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