Question

The amount of taxes a business owes is a/an

A.
liability.
B.
asset.
C.
account receivable.
D.
bonus.

Answer 1

A. Liability.

Step-by-step explanation:

This is the correct answer for connexus.

Answer 2

A. liability.

Step-by-step explanation:

The amount of taxes a business owes is a liability. A liability is an obligation or amount a business owes to others, including accounts payable, notes payable, loans payable, wages payable, payroll taxes payable, and income taxes payable. Notice those last two are examples of tax liabilities.