Do you have abandoned wiring?
During a recent inspection, we came across this wiring between two joists in a basement ceiling. It is armored cable, which contains wires inside a flexible metal sheath of either aluminum or steel, and is commonly know by the trade name, 'BX' cable.
The issue here is that the wire on the left terminates outside a junction box. This is a safety issue due to the potential for shock or electrocution if contact is made with the wires. In order to remove that hazard, our recommendation is to have the wires removed or terminated inside a junction box. All work would need to be performed by a licensed electrician.
Note that even if these wires were not 'live', the recommendation would still be the same, as the wires could have the potential to become energized by a switch.