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.
The most common deposit is a security deposit. Security deposits protect the landlord if the tenant fails to pay the rent or causes damage to the rental premises beyond ordinary wear and tear. Your landlord cannot charge you for normal wear and tear.his notice, which is also called an accounting, must be personally delivered or mailed within 31 days. If your landlord wrongfully keeps part or all of the money, you have up to one year to settle the matter or file a lawsuit for up to twice the amount of the money your landlord kept.