explain all function of liablities
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Liabilities are a vital aspect of a company because they are used to finance operations and pay for large expansions. They can also make transactions between businesses more efficient.
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Explanation:
- An asset can create income, reduce expenses, and store wealth.
- To have value as an investment, an asset must either store wealth or create income (reduce expenses).
- ideally, an asset can do both. Whatever the type of asset you choose, investing in assets or selling capital can be more profitable than selling labor.
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