Which of the following would be listed as a liability on the balance sheet of a retail shoe store?
A) The store's private parking lot
B) The store's inventory of sandals and open-toed shoes
C) The store's accounts receivable
D) The cash in the store's cash register
E) None of these

Question

Quizplus · Accepted Answer

Liabilities are obligations to pay cash or other economic resources in return for past, present, or future benefits.

Which of the Following Would Be Listed as a Liability