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Which of the following is the best definition of a liability in accounting? A. Anything your company owes to someone besides the business owner B. A debt your business owes that…

Which of the following is the best definition of a liability in accounting? A. Anything your company owes to someone besides the business owner B. A debt your business owes that…
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1 vote
Which of the following is the best definition of a liability in accounting?

A. Anything your company owes to someone besides the business owner
B. A debt your business owes that must be repaid during the present accounting period
C. Anything your company needs to sell during the present accounting period
D. Anything your company owes to the business owner

asked
User David Harks
by
8.4k points

1 Answer

4 votes

Answer:

Anything your company owes to the business owner

Step-by-step explanation:

answered
User JerabekJakub
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8.1k points
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