1. plural of liability; debts or financial obligations owed by a person or organization
Usage: business; accounting
2. plural of liability; legal responsibilities or the state of being legally responsible for something
Usage: legal
3. plural of liability; disadvantages or things that cause problems or difficulties

Examples

• The company’s liabilities exceeded its assets by millions of dollars.
• Current liabilities include accounts payable and short-term loans.
• The insurance policy covers various liabilities that might arise from accidents.
• His criminal record became one of his greatest liabilities when job hunting.
• The business owner carefully reviewed all liabilities before signing the contract.
• Long-term liabilities such as mortgages appear on the balance sheet.
• Her lack of experience was seen as a liability by potential employers.