Let's talk money word of the day Jan 5

LET’S TALK MONEY WORD OF THE DAY-JANUARY 5TH

SHONDA MILESWWW.SHONDAMILES.COM

LIABILITIES

• CLAIM ON YOUR ASSETS• MONEY YOU OWE• YOUR FINANCIAL OBLIGATIONS USUALLY PAYABLE BY MONEY• DEBT

LIABILITIES

• SHORT TERM USUALLY PAID WITHIN ONE YEAR• I.E. FURNITURE, CAR PAYMENTS

• LONG TERM PAID OVER LONGER THAN A YEAR• I.E. MORTGAGE

LIABILITIES

• IN THE CASE OF A COMPANY, A LIABILITY IS RECORDED ON THE BALANCE SHEET AND CAN INCLUDE ACCOUNTS PAYABLE, TAXES, WAGES, ACCRUED EXPENSES, AND DEFERRED REVENUES. CURRENT LIABILITIES ARE DEBTS PAYABLE WITHIN ONE YEAR, WHILE LONG-TERM LIABILITIES ARE DEBTS PAYABLE OVER A LONGER PERIOD.

READ MORE: HTTP://WWW.INVESTORWORDS.COM/2792/LIABILITY.HTML#IXZZ3WQ6ZM53J

http://www.investorwords.com/397/balance_sheet.html

http://www.investorwords.com/9996/include.html

http://www.investorwords.com/51/accounts_payable.html

http://www.investorwords.com/5972/taxes.html

http://www.investorwords.com/5273/wages.html

http://www.investorwords.com/67/accrued_expense.html

http://www.investorwords.com/1368/deferred_revenue.html

http://www.investorwords.com/1254/current_liabilities.html

http://www.investorwords.com/1313/debt.html

http://www.investorwords.com/6857/long_term_liabilities.html

http://www.investorwords.com/3669/period.html