Regarding Liabilities,which of the Following Statements Is Incorrect

question 87

Multiple Choice

Regarding liabilities,which of the following statements is incorrect?

• A) Liabilities represent one of the two claims to assets.
• B) A creditor who has loaned money to a business has a claim to some of the business's assets until the business pays the debt.
• C) Liabilities are economic resources that are expected to benefit the business in the future.
• D) Many, but not all, liabilities have the word payable in their titles.

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Definitions:

Chronic Stress

A state of ongoing, persistent stress that can lead to significant health problems, including mental health disorders, heart disease, and weakened immune function.

Heart Disease

A range of conditions affecting the heart, including coronary artery disease, heart attacks, congestive heart failure, and congenital heart defects.

Marriage

A legally or socially recognized union between two individuals as partners in a personal relationship.

Health

A condition characterized by total well-being in physical, mental, and social aspects, not just the lack of illness or weakness.