The
Definition Of

Outstanding liabilities

 Outstanding liabilities are those liabilities which have not been paid at the date of the balance-sheet.

Share it:

More from this Section

  • Liabilities
    Liabilities are claims against assets-that is, existing debts and obligations. Businesses of all sizes usually borrow money and purchase merchandise on credit. Creditors may legally force...
  • Time ticket
    The time ticket is a document that indicates the employee, the hours worked, the account and job to be charged, and the total labor cost.
  • Overhead controllable variance
    Overhead controllable variance is the difference between normal capacity hours and standard hours allowed times the fixed overhead rate.
  • Privately held corporation
    Privately held corporation is a corporation that has only a few stockholders and whose stock is not available for sale to the general public.
  • Change in accounting principle
    A change in accounting principle occurs when the principle used in the current year is different form the one used in the preceding year.
  • Record date
    At the record date, the company determines ownership of the outstanding shares for dividend purposes. The records maintained by the corporation supply...
  • Organization costs
    Costs incurred in the formation of a corporation are called organization costs. These costs include legal and state fees, and promotional expenditures...