Liabilities are debts, or money that must be paid. Usually debt on terms of less than five years is called short-term liabilities, and debt for longer than five years is called long-term liabilities.
Was this article helpful?
Average rating 5 / 5. Vote count: 1
No votes so far! Be the first to rate this post.
At Bplans, it's our goal to make it easy for you to start and run your business. The Bplans glossary of common business terms will help you learn about key small business and entrepreneurship topics.
Starting or Growing a Business? Check out these Offerings.
Business Plan Writers
Investor-Ready Business Plans Written In No Time
100% Free Quote
One-Page Business Pitch
Write A Winning Business Pitch In Just 60 Minutes
Start for $20/mo
Boost team productivity and collaboration with a shared email inbox
14 days free
All the Insights You Need to Help Your Business Succeed
Works with QBO & XERO
Startups Are Coming
Good Debt vs. Bad Debt
Business Ratios Give You Type-of-Business Comparisons
Expert business tips and advice delivered weekly.
Easily write a business plan, secure funding, and gain insights.