Which of the following would be reported as a liability?
A) demand deposits
B) bank overdrafts
C) certificates of deposit
D) travel advances

Name: Which of the following would be reported as a liability? A) demand deposits B) bank overdrafts C) certificates of deposit D) travel advances
Brand: Quizplus
Rating: 4.9 (29 reviews)

Question

Quizplus · Accepted Answer

Bank overdrafts are considered a liability because they represent amounts that the company owes to the bank, essentially a short-term borrowing.

Which of the Following Would Be Reported as a Liability