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Mathematics 20 Online
OpenStudy (miastarr):

Elise gathered details about her finances to create a financial assets and liabilities record. Which represents one of her liabilities? A. her checking account balance of $2827 B. her jewelry valued at $1375 C. balance of $9460 on her auto loan D. rental property valued at $132,000

OpenStudy (miastarr):

help

OpenStudy (debpriya):

the answer is C :)

OpenStudy (miastarr):

plz exsplain

OpenStudy (anonymous):

no dirct awnserers

OpenStudy (debpriya):

see basically liabilities are what we owe and assets are investments in the form of real estate, jewellery .....etc they provide a future economic benefit whereas liabilities are like debt which has accrued

OpenStudy (debpriya):

so loan in this case is what she owes...thus it is a liability

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