Which of the following would be listed as a liability on the balance sheet of a new office supply store?
A) The computers in the back offices
B) Copying equipment
C) Furniture displays
D) Money owed to vendors for merchandise
E) Registers at the front of the store

Question

Quizplus · Accepted Answer

Money owed to vendors for merchandise is considered a liability because it is a debt that the business owes to others. The other options listed are considered assets because they are physical items that the business owns.

Which of the Following Would Be Listed as a Liability