What Are Identifiable Liabilities In Accounting
Identifiable Liabilities are those Liabilities which are paid off during the existence time of the business or when the business is still existing or operating. We can also define identifiable liabilities as those liabilities which are paid off / disposed of before closing / shutdown of the entire business or before the business goes into liquidation. Examples include paying off debts, paid Accrued / Outstanding Liabilities , etc.