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Which of the following statements about liabilities is true? Multiple Choice They represent obligations to repay debts. They may increase when assets increase. They are
Which of the following statements about liabilities is true?
Multiple Choice
They represent obligations to repay debts.
They may increase when assets increase.
They are found on the claims side of the accounting equation.
All of the answers are characteristics of liabilities.
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An Introduction To Business Accounts
Authors: John Harrison, Ron Dawber
1st Edition
9780273019954
