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liabilities plus owner's equity
part of the balance sheet, which is not assets (Еnglish has no term for this)
~5 min read
Article
In financial accounting, a liability is a quantity of value that a financial entity owes. More technically, it is value that an entity is expected to deliver in the future to satisfy a present obligation arising from past events. The value delivered to settle a liability may be in the form of assets transferred or services performed.
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