exists and is an alternate of . Liabilities are debts owed to an outside party (creditor) such as a bank loan, a truck note, etc. Expenses are the cost of operating the business and affect the net income. Expenses include things such as utilities, supplies, insurance, rent, etc. While liabilities are listed on the balance sheet, expenses are not. Also, Liabilities decrease Owners Equity (Stockholders Equity) while Expense decrease Net Income. Liabilities are debts owed to an outside party (creditor) such as a bank loan, a truck note, etc. <br /><br /> Expenses are the cost of operating the business and affect the net income.
The law basically requires covered landlords to change or re-key the locks when a tenant moves out and before a new tenant moves in. There is an exception when the tenant, by way of lease, has obtained the right to change or re-key the dwelling unit.
Keys. 1  Re-key or replace door locks before leasing a rental to a new tenant. 2  Eliminate the use of a master key. 3  Don't label keys with unit numbers.  If you lend out backup keys, keep a log of who borrows 1  them. Lock the room where key boxes are stored.  Use a burglar alarm to protect the manager's office.