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50 Accounting Basics You Must Know | Simple Guide for Beginners

📌 What are Liabilities in Accounting? Liabilities are the financial obligations of a business – the money a company owes to creditors, suppliers, employees, or the government. They form the right side of the Balance Sheet and can be short-term (current), long-term (non-current), or contingent. 👉 Simply put: Assets = What you Own ...

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