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What is outstanding liabilities? |
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Answer» Outstanding liabilities refers to those payments which are organisation accounting to its requirement has taken some conditions or other material and the payment of which is still outstanding as the cost and other expenses are the outstanding liabilities of an organisation. Many times, the organisation by stopping such payments, are invested on the important tasks of business organisation but this kind of strategy spoils the organizational image. Such outstanding liabilities include the labour, wages, salaries, loans, raw materials etc. |
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