Liabilities are best described as
A)monetary items of value that you own.
B)financial debts and obligations that you owe.
C)your net worth.
D)assets that depreciate over time.
E)intangible obligations.

Question

Quizplus · Accepted Answer

Liabilities are financial debts and obligations that an individual or entity owes to others. These can include loans, credit card balances, mortgages, and other forms of debt.

Answer: E 
 Liabilities can also include intangible obligations, such as warranties, guarantees, or legal claims that an individual or entity might have against them.

Liabilities Are Best Described as