What Are Business Liabilities

question 17

Multiple Choice

What are business liabilities?

• A) The increases in assets that result from profitable operations.
• B) Amounts it expects to collect in the future from customers.
• C) The amounts that owners have invested in the business.
• D) Debts or obligations resulting from past business events.

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Definitions:

System 2

A term often used in psychology to refer to the deliberate, effortful, and analytical mode of thinking, contrasted with fast, automatic System 1 thinking.

Detrimental Behaviors

Actions or habits that are harmful or disadvantageous to oneself or others.

Hardwired

Referring to inherent features or configurations within a system, device, or organism that are permanently established and not subject to change through external adjustments.

Heuristics

These are rules-of-thumb or shortcuts that simplify decision making and problem-solving, especially in complex situations.