A not-for-profit children's hospital has $100 million dollars in property, cash, inventory and monies it expects to receive. It has $50 million in debt. What is the term on the balance sheet for the $50 million in debt?

Question

Quizplus · Accepted Answer

Liabilities on a balance sheet represent the debts or obligations of a company, in this case, the $50 million in debt the hospital owes.

A Not-For-Profit Children's Hospital Has $100 Million Dollars in Property