Obligations that arise automatically in the course of operating a business when a firm buys goods and services on credit.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Liabilities that a person or firm acquires when buying goods or services on credit. Specifically, spontaneous liabilities are the obligations to pay for the goods or services at some point in the future.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved