_____ are creditors' claims for funds, usually because they have provided funds, or goods and services, to the firm.
A)Revenues
B)Expenses
C)Liabilities
D)Assets
E)Shareholder Equity

Question

Quizplus · Accepted Answer

Liabilities are the financial obligations of a company towards its creditors and suppliers who have provided goods or services or lent money to the company. It represents a claim on the assets of the company and is expected to be paid off in the future with cash or other assets. Examples of liabilities include accounts payable, loans payable, and accrued expenses.

_____ Are Creditors' Claims for Funds, Usually Because They Have