Resources minus capital equities is equal to: (a) Assets (b) Equity (c) Revenue (d) Liabilities
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d) liabilities .
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d) Liabilities
Explanation:
- In financial accounting, a liability is defined as the future sacrifices of economic benefits that the entity is obliged to make to other entities as a result of past transactions or other past events.
- The settlement of which may result in the transfer or use of assets, provision of services or benefits in the future.
- Liabilities can be further defined by a transaction or event obligating the entity that has already occured.
- Or any type of borrowing from persons banks for improving a business or personal income that is payable during short or long time.
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