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Reconciliation vs Liability - What's the difference?

reconciliation | liability |

As nouns the difference between reconciliation and liability

is that reconciliation is reconciliation (process of matching and comparing figures from accounting records against those presented on a bank statement) while liability is the condition of being liable.

reconciliation

Noun

(en noun)
  • The reestablishment of friendly relations; conciliation or rapprochement.
  • He longed for reconciliation with his estranged father, but too many painful memories kept him from making contact again.
  • (theology) The end of estrangement between a human and God as a result of the process of atonement; more specifically,
  • :* A Roman Catholic sacrament involving contrition, confession, punishment and absolution; penance.
  • (accounting) Process of matching and comparing figures from accounting records against those presented on a bank statement.
  • Synonyms

    *

    liability

    English

    Noun

    (wikipedia liability) (liabilities)
  • the condition of being liable.
  • an obligation, debt or responsibility owed to someone.
  • * 1901 , , (w, The Monkey's Paw)
  • "I was to say that Maw and Meggins disclaim all responsibility," continued the other. "They admit no liability at all, but in consideration of your son's services they wish to present you with a certain sum as compensation."
  • a handicap that holds one back.
  • the likelihood of something happening.
  • Antonyms

    * asset

    Derived terms

    * enterprise liability * secondary liability * vicarious liability