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.

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LET’S TALK MONEYFOR MORE INFORMATION ON MAKING MORE MONEY AND

DEVELOPING MSI GO TO WWW.SHONDAMILES.COM