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What a firm owes to its creditors is recorded as its:
AFacilities
BLiabilities
CCommodities
DSecurities
Answer & Solution
Correct answer: B. Liabilities
1. Another word for them is debts.
2. They sit opposite the assets.
3. They are liabilities.
_Source: OpenStax Introduction to Business, Chapter 14, Using Financial Information and Accounting._
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