Liabilities are shown on the
A) income statement.
B) statement of changes in stockholders' equity.
C) statement of cash flows.
D) balance sheet.

Question

Quizplus · Accepted Answer

Liabilities are a type of financial obligation or debt that a company owes to others. They are typically shown on the balance sheet, which summarizes a company's assets, liabilities, and equity at a specific point in time. The income statement shows a company's revenues and expenses over a period of time, while the statement of changes in stockholders' equity details any changes in the equity section of the balance sheet, such as dividends or stock repurchases. The statement of cash flows describes how the company's cash balance changed over the period, accounting for sources and uses of cash.

Liabilities Are Shown on the