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Liabilities

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Liabilities cover the following:

 Current Liabilities: Monies owed by the business, to be paid back within 12 months — for example, accounts payable.

 Liabilities: Monies owed by the business, to be paid back within one to five years — for example, car loans.

 Non-Current Liabilities: Monies owed by the business, to be paid back after a year — for example, a mortgage on the building premises.

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