Amounts that a business must pay in the future are known as:
A)capital.
B)liabilities.
C)expenses.
D)assets.

Question

Quizplus · Accepted Answer

Liabilities represent obligations or debts that a business owes to others and are expected to be paid in the future. Capital represents the owner's investment in the business. Expenses are costs incurred by the business in the process of generating revenue. Assets are items of value owned by the business, such as cash, accounts receivable, inventory, and property.

Amounts That a Business Must Pay in the Future Are