Practice mode Accounting

Which one of these items is classed as a liability?

Correct answer D. Creditors

Explanation

Creditors are people or firms to whom the business owes money for goods or services bought on credit, so they are a liability.

Report a problem

Answer checked How we write and check questions

Tip: press A, B, C or D to answer, and N for the next question.

Advertisement

Have a question about this answer?

Your email address will not be published. Required fields are marked *

Links and website addresses are not allowed in comments.