Business GCSE
Liabilities
What Liabilities means in Business GCSE, as defined for AQA.
Definitions of Liabilities
Exam boards and our study guides word this term in slightly different ways. Learn the version your board uses.
Check what you remember
Read the wording for your board, then hide it and explain Liabilities in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
Amounts the business owes to others, such as bank loans, overdrafts, unpaid supplier invoices and tax due.
Amounts owed by a business, such as loans or trade payables.
Topics that use Liabilities
Related terms
- Asset and liability classification
- Assets
- Average Rate of Return (ARR)
- Business decision making
- Calculating and comparing ratios and totals
- Cash Flow Forecast
- Causes and consequences of financial change
- Financial interpretation and comparison
Using Liabilities in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
Practise Business questions
Create a free account to answer exam-style questions on this topic and get feedback on your answers.
Start free
All Business GCSE termsA week of Premium from your first lesson · Then the free plan continues · No card, no charge