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5: Liabilities in More Detail

  • Page ID
    43091
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    • 5.1: Sales Tax
    • 5.2: Payroll
    • 5.3: Notes Payable
      A business may borrow money from a bank, vendor, or individual to finance operations on a temporary or long-term basis or to purchase assets. Note Payable is used to keep track of amounts that are owed as short-term or long- term business loans. A note payable is a loan contract that specifies the principal (amount of the loan), the interest rate stated as an annual percentage, and the terms stated in number of days, months, or years.
    • 5.4: Bonds

    Thumbnail: Word Cloud by www.epictop10.com (CC BY 2.0 Generic via Flickr)


    5: Liabilities in More Detail is shared under a CC BY-SA 4.0 license and was authored, remixed, and/or curated by Christine Jonick (GALILEO Open Learning Materials) via source content that was edited to conform to the style and standards of the LibreTexts platform; a detailed edit history is available upon request.

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