When companies owe money to creditors,suppliers,and others,these outstanding amounts are recorded on the balance sheet as __________.

Name: When companies owe money to creditors,suppliers,and others,these outstanding amounts are recorded on the balance sheet as __________.
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Liabilities represent the amount owed by a company to its creditors, suppliers, and others. This is a standard accounting practice to ensure accurate financial reporting of a company's financial position.

When Companies Owe Money to Creditors,suppliers,and Others,these Outstanding Amounts Are