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Retirement Videos 84 videos

Finance: What is a redemption charge?
7 Views

A redemption charge is a charge applied when you redeem shares of a mutual fund in a deferred commission purchase structure.

Finance: What is the Tax Reform Act of 1986?
4 Views

What was the Tax Reform Act of 1986? Hit play to find out.

Finance: What are Passive Investing and Passive Investors?
2 Views

What are Passive Investing and Passive Investors? Passive investing and passive investors are ones who opt to ride the market out over the long ter...

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Finance: What is liability? 3 Views


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Description:

What is liability? Any type of lawful financial obligation that a company bears is categorized for accounting purposes as a liability. Liabilities can include debts, accounts payable, deferred revenues, deferred compensation, taxes and expenses still outstanding, In legal terms, liability can refer to any kind of responsibility that falls on the part of one party to owe an injured party.

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Transcript

00:00

Finance allah shmoop What is a liability What is it

00:07

it's what you owe you bought four million gumballs on

00:10

credit for your party pack for the parade the money

00:13

is owed to gumballs are us in ninety days that's

00:18

a short term liability Alright next example you borrowed eighty

00:22

three million dollars to set up your new do dental

00:24

drive through service and that money is due in twelve

00:28

years at seven percent interest a year that's A long

00:31

term liability Why long term Because it comes due in

00:35

over a year and that's basically it liability comes in

00:39

two flavors short and long term and it's one of

00:41

the key elements of the balance sheet as it lives

00:43

in this space ride over here So yeah that's a

00:47

liability all this crap time now considering how many gumballs

00:51

you've consumed in the past month you really should get

00:53

yourself to a good drive through dentist or maybe sleep 00:00:56.998 --> [endTime] in mr

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