i am wondering...?

  • Thread starter Thread starter Horace Roo
  • Start date Start date
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Horace Roo

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i can not understand the definition of liabilities.
from an ICAO's document "airport economics manual"

" liabilities : debt of the entity in the form of the financial claims on an entity's assets."
Please explain it in simple words.
and what is the distinction between the entity and an entity
 
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