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English definition of “external liability”

external liability

noun [C, usually plural]
 
 
(plural external liabilities)
ACCOUNTING an amount of money that a company owes to lenders or creditors (= people or organizations that have lent it money, or sold it goods), compared to money that is owed to shareholders: The company's restructuring has resulted in a reduction in its external liabilities.
ECONOMICS an amount of money that a country owes to another country: A significant part of the country's external debt is short-term external liabilities which, at the end of March, stood at $11.1 billion.
(Definition of external liability from the Cambridge Business English Dictionary © Cambridge University Press)
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