ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Anything you owe; a debt.
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Liability
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Interest
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Consumer
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Asset
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Explanation:
Detailed explanation-1: -Debt liability means any form of monetary obligation other than an ownership interest. It includes bonds, debentures, notes, mortgages and loans of any kind, secured or unsecured. In answering the questions that follow, you may omit ACCOUNTS PAYABLE for goods or services received in the course of business.
Detailed explanation-2: -Liabilities are what you owe other parties. In short, assets put money in your pocket, and liabilities take money out!
Detailed explanation-3: -A company’s obligation to pay money to other people or businesses in the future is called a liability.
There is 1 question to complete.