The claims of creditors against the assets are:
A)expenses.
B)revenues.
C)liabilities.
D)owner's equity.

Question

Quizplus · Accepted Answer

Claims of creditors are liabilities as they represent debts that must be paid back to the creditors. Expenses are costs incurred by a company during its normal course of business, revenues are the inflow of money earned through the sale of goods or services, and owner's equity represents the residual interest in assets after liabilities are deducted.

The Claims of Creditors Against the Assets Are