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1. Briefly describe at least 3 characters of liabilities 2. Mention the types and subtypes of liabilities (at least 4) that you know, give examples

1. Briefly describe at least 3 characters of liabilities

2. Mention the types and subtypes of liabilities (at least 4) that you know, give examples of each!

3. When should a company buy an asset / for other monetary purposes using its liabilities?

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