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WebDec 5, 2024 · Liabilities A liability is money you owe to a bank or another person. A car loan, credit card debt and mortgage are all examples of liabilities, and they decrease your net worth. When you owe someone money, it means you have less net worth because you’d have to liquidate your assets to pay off the debt, leaving you with less money in hand. WebAug 3, 2024 · Thus, the T-account is used for the set of financial records that use Double Entry Accounting System is an accounting approach which states that each & every … signs of rheumatoid arthritis in ankles
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