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.
A: Tenants' advocate Kellman: The landlord may only charge the tenant the actual costs of repair of damages caused by the tenant beyond normal wear and tear. If the door lock breaks or the sink clogs by no fault of the tenant, the landlord pays for the full repair. Even if it is the tenant's fault, they pay only the true charge for the repair. The schedule of charges may actually offer some protection for the tenant if the tenant causes damage that costs more than the schedule.