anything that is owed to someone else
"The company's liabilities include unpaid loans and outstanding accounts payable."
plural of liability
"The company's balance sheet shows significant liabilities from unpaid taxes and outstanding business loans."
An amount of money in a company that is owed to someone and has to be paid in the future, such as tax, debt, interest, and mortgage payments.
In plain English: Liabilities are debts you owe to other people that must be paid back later.
"The company had to sell some assets because its liabilities were too high."
Usage: Liabilities refer specifically to financial obligations or debts a business owes rather than assets it owns. Use this term when discussing accounts payable, loans, mortgages, or taxes that must be settled in the future.