TOTAL LIABILITIES Definition

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TOTAL LIABILITIES is all the obligations of the company, i.e. includes Total Current Liabilities, Long Term Debt, and any other miscellaneous liabilities the entity may have listed separately.

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SPONTANEOUS ASSETS are assets that arise automatically, in the course of operating a company day-to-day, when a company purchases assets and they are delivered.

DEFICIT BUDGET is where the estimates of expenses are greater than estimates of revenue.

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