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Claims of Creditors and Owners on the Assets of a Business

question 73

True/False

Claims of creditors and owners on the assets of a business are called liabilities.


Definitions:

Safety Standards

Regulations and protocols established to ensure the health and safety of employees in the workplace or public in certain environments.

Safety Rules

Guidelines and regulations put in place to prevent accidents and injuries in the workplace or other environments.

Penalties

Consequences or sanctions imposed for violating rules, laws, or regulations.

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