Liabilities on the other hand, are the obligations and debts a company or an individual owes and have to be settled either in the short term or long term. A liability is usually money owed by a business for the purchase of an asset.
Liabilities could arise from borrowings which may be made to improve business or personal income and are paid back over an agreed period of an interval.
From the personal finance and investment perspective, there are four classes of assets that you need to have available to build an investment portfolio.
An asset is any form in which wealth can be stored and held - long lasting item of property that can be reasonably expected to contribute to the future profits of a business.
From our discussions on Inflation so far, you can see that it is difficult to classify Inflation as either good or bad. When it is bad for some people, it…
From the last series, you now know how high inflation creates uncertainty and can wipe away the value of money savings. But I also mentioned that while inflation is a…
Two days ago, we had considered the definition of Inflation, its causes and how it is measured. Today, we are going to focus on the Negative Effects of Inflation. Inflation…
In continuation of the series on Inflation we started yesterday, we are going to consider the Causes of Inflation and how it is Measured in the economy. Inflation Theories -…
There are several inflation related questions we ask ourselves every day. "Last year, I bought this same Beverage - Milo - for N800, now it's N1,200, what is happening to…
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