A debt that a business owes to an outside party is called:

Name: A debt that a business owes to an outside party is called:
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A liability is a debt or obligation that a business owes to an outside party, such as a loan or unpaid invoice. Revenue is the income earned by a business from its operations, while an asset is something that a business owns or controls that has value, such as property or equipment. Owners' equity refers to the ownership interest that shareholders hold in a business.

A Debt That a Business Owes to an Outside Party