Liabilities are financial obligations that are also referred to as ____________.
A)asset commitments
B)bad faith situations
C)current bills
D)debts

Name: Liabilities are financial obligations that are also referred to as ____________. A)asset commitments B)bad faith situations C)current bills D)debts
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Question

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Liabilities are synonymous with debts, as they represent financial obligations owed by a company or individual to another party. Options A, B, and C do not accurately describe liabilities.

Liabilities Are Financial Obligations That Are Also Referred to as ____________