A debt that a business owes is called ________.
A)an asset
B)a liability
C)stockholders' equity
D)revenue

Question

Quizplus · Accepted Answer

A debt is a liability for a business, as it is an obligation to repay borrowed money or funds owed to creditors. An asset refers to something owned by a company with value, such as property or equipment. Stockholders' equity is the residual claim held by shareholders after subtracting liabilities from assets, and revenue is the income earned by a business from the sale of goods or services.

A Debt That a Business Owes Is Called ________