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Liabilities
Financial obligations of a business, including money owed to creditors or suppliers.
Financial Instrument
Any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
Bank Overdraft
A facility that allows an individual or business to withdraw more money from a bank account than has been deposited, up to an agreed limit.
Notes Payable
A liability represented by a written promise to pay a specific sum of money, usually with interest, by a specified date.
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