What Work Wants-More Sales-Less Taxes & Better Cash
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NDIS Bookkeeping Services LIABILITIES: Like equities, are generally generally sources of assets - how you have the 'stuff'. These are claims against assets by someone additionally to the investor. This is what the company owes! Notes payable, taxes payable and loans are liabilities. Liabilities are categorized as current liabilities (need to completely pay down within a year's time, like payroll taxes) or long term liabilities (pay-back time is a bit more than a year, significantly building mortgage).
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