ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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SECURED LIABILITY Definition
SECURED LIABILITY is a liability that has a degree of protection towards satisfaction if unpaid because the debtor has pledged personal/company assets towards satisfaction of that liability; e.g., a property mortgage is a secured liability because the mortgage holder has a guarantee through a lien on the property.
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LIVING ASSETS are employees. Also referred to as "live assets," "human capital," "resources" and "carbon units."
DEFERRED EXPENSES see PREPAID EXPENSES.