Liabilities are ______.
A: money borrowed from banks
B: money received from creditors
C: "outsider claims", which are economic obligations, debts payable to outsiders
D: notes receivable
A: money borrowed from banks
B: money received from creditors
C: "outsider claims", which are economic obligations, debts payable to outsiders
D: notes receivable
举一反三
- Liabilities are amounts owned to outsiders, such as notes payable, accounts payable, .
- Have you ever borrowed money from others?
- He borrowed some money ______ me and gave it ______ the poor man. A: to, for B: for, to C: from, to D: to, from
- Which statement regarding the liabilities and owners’ equity section of balance sheet is False? A: Payment of Dividend Payable eliminates both the assets and the owners’ equity. B: Liabilities are debts or obligations that must be discharged in money or services in the future. C: Owners’ equity is a residual claim to the remaining assets after discharge of debts. D: Balance sheet of corporations should separate Capital Stock and Retained Earnings
- Which<br/>of the following accounts is NOT a liability? ( ) A: Accounts Payable B: Notes Payable C: Salaries Payable D: Accounts Receivable