Debts and Obligations of a Business Are Referred to as

question 158

Multiple Choice

Debts and obligations of a business are referred to as

• A)assets.
• B)equities.
• C)liabilities.
• D)expenses.

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Definitions:

Obligation

A duty or commitment that compels someone to act in a certain way, often based on moral or legal reasons.

Stronger Apology

A more impactful and sincere expression of regret for a mistake or wrongdoing.

Responsibility

The state or fact of being accountable or to blame for something, entailing the obligation to carry out duties or tasks.

Organization's Culture

The shared values, beliefs, and practices that characterize a company or institution, influencing how work is performed and how employees interact.