_____________ is a debt of the company, and this amount represents items purchased, services utilized, or money spent purchasing items that turn into inventory for resale.
A) Liability
B) Asset
C) Owner's equity
D) None of these is correct.

Question

Quizplus · Accepted Answer

Liabilities represent debts of a company, including amounts owed for items purchased or services utilized that may also contribute to inventory for resale.

_____________ Is a Debt of the Company, and This Amount