### Question
How does PART 1—GENERAL REGULATIONS UNDER THE COMMODITY EXCHANGE ACT define liabilities?


### Answer
Under *17 CFR § 1.10*, **liabilities** is defined as:

> the total money liabilities of an applicant or registrant arising in connection with any transaction whatsoever, including economic obligations of an applicant or registrant that are recognized and measured in conformity with generally accepted accounting principles. "Liabilities" also include certain deferred credits that are not obligations but that are recognized and measured in conformity with generally accepted accounting principles. 

#### Citation:
  - *17 CFR § 1.10*
  - Heading: **PART 1—GENERAL REGULATIONS UNDER THE COMMODITY EXCHANGE ACT**

