Required:

What is true about expenses and liabilities?

Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct

answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark

will be automatically graded as incorrect.

Expenses represent additional sums earned by the company.

Liabilities represent sums of money owed by third parties to the company.

Expenses usually have the word "expense" in the account title.

Liabilities usually have the word "payable" in the account title.