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.
What is the landlord required to repair? Landlords are responsible to make all repairs in the unit except in cases where tenants or invitees of the tenant cause the damage. Tenants may also be liable for repairs that are the result of unreported issues in the apartment if those issues cause further damage in the unit.