noun the state of owing money or being under obligation to someone
Indebtedness refers to the state of owing money or being in debt to another party.
Indebtedness may be a key factor in legal matters such as bankruptcy proceedings or debt restructuring.
In economics, indebtedness can refer to the overall level of debt within a country or society, which can impact economic growth and stability.
Indebtedness is recorded on a company's balance sheet as a liability, representing the amount owed to creditors.
Understanding one's level of indebtedness is crucial for managing personal finances and avoiding financial hardship.
In the context of a writer, indebtedness may refer to the emotional or intellectual debt owed to other authors or sources that have influenced their work.
Psychologists may use the term indebtedness to describe the feeling of gratitude or obligation that a client may have towards them for their help and support.
For a financial analyst, indebtedness typically refers to the amount of money that a company owes to its creditors or lenders.
In the legal field, indebtedness can refer to the legal obligation of an individual or organization to repay a debt or fulfill a financial commitment.
An academic researcher may discuss indebtedness in terms of acknowledging and citing the work of other scholars that has contributed to their own research.
In the medical field, indebtedness may refer to the gratitude or sense of obligation that a patient feels towards a doctor for their care and treatment.
For a human resources manager, indebtedness could relate to the benefits and compensation owed to employees for their work and contributions to the company.
In marketing, indebtedness may be used to describe the feeling of obligation or loyalty that customers have towards a brand or company.
Teachers may use the term indebtedness to discuss the importance of students recognizing and appreciating the knowledge and support they receive from their educators.
In social work, indebtedness may refer to the sense of gratitude or obligation that clients may feel towards their social worker for helping them overcome challenges and improve their well-being.