Which of the following would be listed as a liability on the balance sheet of a new office supply store?
A) Registers at the front of the store
B) Money owed to vendors for merchandise
C) The computers in the back offices
D) Copying equipment
E) Furniture displays

Question

Quizplus · Accepted Answer

Money owed to vendors for merchandise is a liability because it is an obligation that the company owes to another party.

Which of the Following Would Be Listed as a Liability