Liabilities of a Company Are Owed to

question 115

Multiple Choice

Liabilities of a company are owed to

• A) debtors.
• B) owners.
• C) creditors.
• D) stockholders.

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Definitions:

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they can be used by multiple people without depleting the supply.

Provision

A specified amount set aside for future expenses or reductions in asset value, typically used in accounting and financial reporting.

Public Good

This refers to goods or services distributed to all societal members at no cost, courtesy of either public institutions or nonprofit private entities.

Private Sector

Part of the economy that is run by individuals and companies for profit and is not under direct state control.