Which of the following statements is true about liabilities? a.Liabilities are the debt owed by a...

Which of the following statements is true about liabilities?

a.Liabilities are the debt owed by a company.

b.Liabilities equal assets plus stockholders' equity.

c.Liabilities include insurance premium paid in advance.

d.Liabilities arise when a company sells goods on account.

Solutions

Expert Solution

Liabilities are the debt owed by a company. These are obligations of a business which arise out of past events.
Option A is correct

ekkarill92 answered 2 years ago

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