### Question
What is the definition of liabilities?


### Answer
The definition of **liabilities** is as follows in *45 U.S.C. § 1303*:

> 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**

