Liabilities:
A)are future economic benefits.
B)are debts and obligations.
C)possess service potential.
D)are things of value owned by a business.

Name: Liabilities: A)are future economic benefits. B)are debts and obligations. C)possess service potential. D)are things of value owned by a business.
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Question

Quizplus · Accepted Answer

Liabilities are defined as debts and obligations that a business owes to others. They represent the company's financial responsibilities to creditors, suppliers, and other entities.