Canadian Government Finance Statistics
Liability of institutional unit, category
Liability refers to the present obligations of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits or service potential.
Institutional unit refers to an economic entity that is capable, in its own right, of owning assets, incurring liabilities, and engaging in economic activities and in transactions with other entities. There is a hierarchical relationship between institutional units and establishments. An institutional unit contains one or more entire establishment(s); an establishment belongs to one and only one institutional unit. There are two main types of units in the real world that may qualify as institutional units, namely persons or groups of persons in the form of households, and legal or social entities.