what are liabilities????

1.	what are liabilities????
Answer» <div style="max-width: 56vh;"><div style="left: 0; width: 100%; height: 0; position: relative; padding-bottom: 177.6562%;"><iframe src="//cdn.iframe.ly/w2HqlJb?media=1" style="border: 0; top: 0; left: 0; width: 100%; height: 100%; position: absolute;" allowfullscreen allow="encrypted-media *"></iframe></div></div><script async src="//cdn.iframe.ly/embed.js" charset="utf-8"></script><br><a data-pin-do="embedPin" href="https://www.pinterest.com/pin/763149099352503633/" data-pin-width="large" ></a><script async type="text/javascript" src="https://assets.pinterest.com/js/pinit.js"></script><br><div style="left: 0; width: 100%; height: 0; position: relative; padding-bottom: 56.25%;"><iframe src="https://www.youtube.com/embed/LMaj-Iub7VY?rel=0" style="border: 0; top: 0; left: 0; width: 100%; height: 100%; position: absolute;" allowfullscreen scrolling="no" allow="encrypted-media; accelerometer; clipboard-write; gyroscope; picture-in-picture"></iframe></div><br>Responsibility to pay!<br>The economic value of an obligation or debt that is payable by the enterprise to other establishment or individual is referred to liability. To put it in other words, liabilities are the obligations that are rising out of previous transactions, which is payable by the enterprise, through the assets possessed by the enterprise.

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