A Liability Is ________

question 157

Multiple Choice

A liability is ________.

• A) the amount of money that owners would receive if they sold all of a firm's assets and paid all of its debts
• B) a debt owed by a firm to an outside organization or individual
• C) any economic resource expected to benefit a firm or an individual who owns it
• D) the amount of money originally invested in a business by its owners

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Definitions:

Core Business

The primary area of activity within an organization that is central to its identity and typically generates the majority of its revenue.

Inattention

The lack of focus or concentration on a task or the present moment, which can lead to errors or oversights.

Deliberate Practice

A method of skill development involving focused, structured practice with the aim of improving performance.

Grit

A personality trait characterized by perseverance and passion for achieving long-term goals despite obstacles.