### Question
How does CONRAIL PRIVATIZATION define liabilities?


### Answer
Under *45 U.S.C. § 1303*, **liabilities** is defined as:

> all items of indebtedness or liability which, in accordance with generally accepted accounting principles, would be included in determining total liabilities as shown on the liabilities side of a balance sheet as at the date as of which liabilities are to be determined

#### Citation:
  - *45 U.S.C. § 1303*
  - Heading: **CHAPTER 22-CONRAIL PRIVATIZATION > SUBCHAPTER I-GENERAL PROVISIONS**

