Which of the following would be listed as a liability on the balance sheet of a retail shoe store?
A) The store's private parking lot
B) The store's accounts receivable
C) The store's inventory of sandals and open-toed shoes
D) The cash in the store's cash register
E) None of these

Question

Quizplus · Accepted Answer

Liabilities are obligations the store owes to others, such as loans or accounts payable. None of the options listed are liabilities; they are assets.

Which of the Following Would Be Listed as a Liability