I think it's really important to be very deliberate and specific when dealing with financial terminology. There are tons of great resources out there on the internet (always go with a reputable source!).
While simple, straight-forward answers are great for getting the gist of a concept, it's also important to do due diligence and deal with the technical aspects as well. This is especially true when handling different types of liabilities.
Bottom line, do lots of research, read lots of sources!