Talk:Liability
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"where assets are what you own, liabilities are what you owe to others, and equity is what you have contributed to the venture."
- where assets are what you own, liabilities are what you owe to others, and equity is what is left.
- It does not have to be a venture. You do not have to contribute anything to gain assets in all cases. GT
would it not be interesting to know, if there is any criminal liability of the auditors? at least some words concerning the civil liability (enron, worldcom etc.) would be welcome for wider audiances as well...
I cleaned up the accounting discussion and made it consistent with my edit of assets. This article obviously needs additional editing.--Lance 04:18, 6 October 2006 (UTC)
[edit] An example
- A deposit to the bank is treated as a "credit" because the bank's liability its customers the depositor increases.
Pardon? Gondooley 17:48, 25 August 2006 (UTC)
I completely re-wrote this "example." Let me know how I did?--Lance 04:18, 6 October 2006 (UTC)
