What Is a Debt or Obligation Owed by an Organization

question 61

Multiple Choice

What is a debt or obligation owed by an organization?

• A) Asset
• B) Liability
• C) Owner's equity

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Definitions:

Propanoic Acid

An organic compound, a colorless, oily liquid with a pungent odor, used industrially in the production of esters, as a preservative, and in cosmetics.

Amino Acid

Organic molecules used as the building blocks of proteins, characterized by an amino group, a carboxyl group, and a specific side chain attached to a central carbon atom.

Propionic Acid

A naturally occurring carboxylic acid with chemical formula C3H6O2, used in food preservation.

Alanine

A nonessential amino acid that is used in the biosynthesis of proteins.