Liabilities are reported on the
A) income statement
B) statement of stockholders' equity
C) statement of cash flows
D) balance sheet

Question

Quizplus · Accepted Answer

Liabilities are reported on the balance sheet, which provides a snapshot of a company's financial position at a specific point in time. The balance sheet consists of assets, liabilities, and equity, and reflects the company's resources and obligations. Liabilities represent the company's debts or obligations to others, such as loans, accounts payable, and accrued expenses.

Liabilities Are Reported on the