Question

Which of the following is considered a liability?

car

government bond

college loan

checking account

Answer 1

I say car

Answer 2

@NaCl you are confusing between assets and liability

Answer 3

A government bond ?

Answer 4

Assets are the things which you have and liabilities are things which you owe

Answer 5

A liability is something that takes money out of your pocket every month,
n asset is something that puts money into your pocket

Answer 6

college loan ?

Answer 7

Yes Good!

Answer 8

car is an asset, if you sell you car you have money on your pocket

Answer 9

do you understand now

Answer 10

yes ! thank you both !