Debt | 0 comments Debt and liability have same meaning. It is interest-bearing liabilities which may be short-term (with in 12 month) and long-term (payable after one year). « Back to Glossary Index Submit a Comment Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Notify me of new posts by email.