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| Definition Of: |
Liability
A present obligation of the enterprise arising from past events, the settlement of which is expected to result in an outflow from the enterprise of resources embodying economic benefits.
Copyright © 2006, European Central Bank, Frankfurt am Main, Germany. This information may be obtained free of charge through the ECB's website.
(1) Money owed; (2) obligation to do, or refrain from doing, something; and (3) a duty that eventually must be performed.
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Banking INDEX:
List of Terms: Terms beginning with "A", Page 1 |
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1 2 3 A: Page 1 of 3.
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