Another Word for Debt Is _______

question 12

Multiple Choice

Another word for debt is _______.

• A)Liability
• B)Partnerships
• C)Sole proprietorships
• D)Limited liability partnerships

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Definitions:

FASB

The Financial Accounting Standards Board, an independent organization responsible for establishing accounting and financial reporting standards in the United States.

IASB

The International Accounting Standards Board, an organization that establishes accounting standards known as International Financial Reporting Standards (IFRS) that guide the preparation and reporting of financial statements globally.

Financial Information

Data about a company's past, present, and future financial health and performance.

Financial Statements

Reports that provide a summary of a company's financial performance and position, including balance sheet, income statement, and cash flow statement.