- Types:
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tax liability
the amount of tax owed; calculated by applying the tax rate to the tax base
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payables
money that you currently expect to pay on notes and accounts
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deficit
an excess of liabilities over assets (usually over a certain period)
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debt
money or goods or services owed by one person to another
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charge
financial liabilities (such as a tax)
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accounts payable
a debtor's accounts of money he owes; normally arise from the purchase of products or services
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levy
a charge imposed and collected
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budget deficit
an excess of expenditures over revenues
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trade deficit
an excess of imports over exports
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arrears
an unpaid overdue debt
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national debt
the debt of the national government (as distinguished from the debts of individuals and businesses and political subdivisions)
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public debt
the total of the nation's debts: debts of local and state and national governments; an indicator of how much public spending is financed by borrowing instead of taxation
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debt ceiling, debt limit
the maximum borrowing power of a governmental entity
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bad debt
a debt that is unlikely to be repaid
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installment debt
debt to be paid by installments
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loan
the temporary provision of money (usually at interest)
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principal
the original amount of a debt on which interest is calculated
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encumbrance, incumbrance
a charge against property (as a lien or mortgage)
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assessment
an amount determined as payable
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score
an amount due (as at a restaurant or bar)