Perhaps my master might refine a little in these speculations, which he had drawn from what he observed himself, or had been told him by others; however, I could not reflect without some amazement, and much sorrow, that the rudiments of lewdness, coquetry, censure, and scandal, should have place by instinct in womankind.
Financial Liability. Definition: Under international financial reporting standards, a financial liability can be either of these two items: 1  A contractual obligation to deliver cash or similar to another entity or a potentially unfavorable exchange of financial assets or liabilities with another entity.efinition: Under international financial reporting standards, a financial liability can be either of these two items: 1  A contractual obligation to deliver cash or similar to another entity or a potentially unfavorable exchange of financial assets or liabilities with another entity.
Current liabilities are those liabilities which are due for the payment within a short period of time usually 12 months, given below are some of the examples of current liabilities 1  â. Sundry Creditors. 2  Bills Payable or Account Payable. 3  Outstanding or Accrued Expenses like salary outstanding, rent outstanding etcâ¦. 4  Unearned Income.  Short Term Loans.