A(n)______ is something you owe someone else.
A)asset
B)liability
C)owners' equity
D)cash flow

Name: A(n)______ is something you owe someone else. A)asset B)liability C)owners' equity D)cash flow
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Question

Quizplus · Accepted Answer

A liability is a debt or obligation owed to another person or organization. Assets are something you own, owners' equity is the residual interest in the assets after deducting liabilities, and cash flow refers to the amount of cash coming in and going out of a business.

A(n)______ Is Something You Owe Someone Else