Which of the following is an example of a liability?
A) An amount which must be paid to a business that sold you some supplies
B) The obligation to transfer the net assets of the business to its owners
C) Equipment purchased by the business on a long-term payment plan
D) The amount contributed to the business by your partner
Correct Answer:
Verified
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Q40: IFRS stands for:
A)International Financial Reporting System
B)International Financial
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Q45: All of the following are external stakeholders
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Q48: All of the following are basic functions
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