👉 Unpayableness is a concept in economics, particularly in the field of microeconomics. It refers to a measure of an individual's ability to pay back a loan or other financial obligation on time. In simple terms, it measures how much money someone can borrow and still be able to repay the amount they borrowed within the agreed-upon timeline.
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What is the definition of Unpayable? 🙋
👉 Unpayable is a term in accounting that describes a liability for which there is no payment or repayment. In other words, an unpayable liability is one where the company has incurred expenses but cannot be repaid until some future date. It's similar to a non-recurring expense, as it doesn't occur within a single period of financial reporting.
