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Answers:
• Liability of a business or an organization
• Asset of a business or an organization
• Expense of a business or organization
• Income of a business or organization
the first choice is correct
liability
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• Liability of a business or an organization - • refers to short-term debt payments to suppliers and banks.
Liability of a business or an organization
Accounts payable represents the amount of money a company owes to its supplier for the purchase of goods or services on credit.
The accounts payable account is listed as a current liability because a company must pay its debt in a short period of time.
CURRENT LIABILLITY OF A BUSINESS
Recognizes as a liability & recorded as a Current Liability becuse normally the repayment term is within days to not more than days.
Liability of a business or an organization ,,,,,,,,,,,,,,,,,,