Unit $1$ DQ: Reporting Liabilities on the Balance Sheet $($Graded$)$

$30$ pts

Bank Loans, mortgages, corporate bonds, and leases are all forms of liabilities and are part of the normal business cycle in many companies. If you were the Financial Officer of a small firm and needed money for the business, what type of liability would you choose? Explain your choice in terms of cost to the company and provide an explanation of why you think it is the best choice using business and accounting terms we covered in this Unit.