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.
If your apartment has been damaged by fire you need to understand your rights and know what steps you should take to protect them. Tenants have the right of a safe and habitable rental unit. So landlords are responsible for repairing their rental property as soon as possible after a fire. Of course, if the fire was caused by negligence on the part of the tenants, the tenants will be responsible for repairs, according to the North Carolina State University Cooperative Extension.