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What is the difference between total debts and total liabilities?
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What is the difference between total debts and total liabilities?
Debt is a sub category of liabilities.

• Debt is always in the form of money, whereas liability is anything that costs a business money

• Debt is always more serious than liability

• All debts are liabilities, but not all liabilities are debts
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What is the difference between total debts and total liabilities?
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