Obligación usually means obligation or bond. I have never heard it used as 'liability'.
Liability can mean 'The state of being responsible for something', much like Obligation.
Don't know about Spanish, but in business English, they are functionally equivalent. That is not to say the words are interchangeable all the time, just that they refer to the same concept.
It is not exactly the same. The difference would be as apparent as both words in English.
In one instance of this translation, the English word "responsibility" is used, even as the default translation (which I disagree with), but here it is not allowed. What gives?
Obligacion es igual de compromiso "commitment". Compromiso tambien es "compromise" en mi diccionario. Tengo comoromiso anterior si significa "I have a previous obligation". Una regla util de cognados es: palabras que se terminan en dad, tad, cion, y tion, siempres son palabras femeninos.
It's very odd that obligation is the translation for obligación here but is not accepted in other sentences in the same lesson. For both of these other sentences, responsibility is given as the translation for obligación and obligation is not accepted. There's nothing apparent from the context to suggest why it would not be. Many people have reported it over the past four years and yet it remains unchanged:
Los hijos son una gran obligación
Los soldados tienen un gran obligación