Which of the following groups includes only financial liabilities?
A)Accounts payable, Notes payable, Warranties payable.
B)Bank loan, Bonds payable, Finance lease obligation.
C)Accounts payable, HST payable, Bonds payable.
D)Bank overdraft, USD bank loan, Obligation under customer loyalty plan.

Question

Quizplus · Accepted Answer

B) Bank loan, Bonds payable, Finance lease obligation are all examples of financial liabilities because they represent obligations to pay cash or another financial asset to another entity.

Which of the Following Groups Includes Only Financial Liabilities