What are 5 examples of liabilities?

Examples of liabilities are –

• Bank debt.
• Mortgage debt.
• Money owed to suppliers (accounts payable)
• Wages owed.
• Taxes owed.

What should I list as liabilities?

A liability is money you owe to another person or institution….Examples include:

1. Auto loans.
2. Student loans.
3. Credit card balances, if not paid in full each month.
4. Mortgages.
5. Secured personal loans.
6. Unsecured personal loans.
7. Payday loans.

What are your liabilities in life?

Your life liabilities are all those things which decrease your ability to lead a good life and can potentially have a negative impact on your future.

What are examples of expenses?

Common expenses might include:

• Cost of goods sold for ordinary business operations.
• Wages, salaries, commissions, other labor (i.e. per-piece contracts)
• Repairs and maintenance.
• Rent.
• Utilities (i.e. heat, A/C, lighting, water, telephone)
• Insurance rates.
• Payable interest.
• Bank charges/fees.

What are the types of liabilities?

There are three primary types of liabilities: current, non-current, and contingent liabilities….Examples of current liabilities:

• Accounts payable.
• Interest payable.
• Income taxes payable.
• Bills payable.
• Bank account overdrafts.
• Accrued expenses.
• Short-term loans.

What are common types of liabilities?

There are three primary types of liabilities: current, non-current, and contingent liabilities. Liabilities are legal obligations or debt….Examples of current liabilities:

• Accounts payable.
• Interest payable.
• Income taxes payable.
• Bills payable.
• Bank account overdrafts.
• Accrued expenses.
• Short-term loans.

Is school loan a liability?

Student loans may be a liability on the consumer balance sheet, but they constitute an asset for Uncle Sam.

What are three examples of assets and three examples of liabilities?

Examples of assets and liabilities

• bank overdrafts.
• accounts payable, eg payments to your suppliers.
• sales taxes.
• payroll taxes.
• income taxes.
• wages.
• short term loans.
• outstanding expenses.

What are the three types of liabilities?

Today we are going to discuss the three primary types of liabilities which include: short-term liabilities, long-term liabilities, and contingent liabilities.