All liabilities involve a probable future sacrifice of economic benefits and arise as a result of past transactions or events.
A liability is a debt that a person or business has, typically in the form of money. Through the transmission of economic benefits like money, products, or services, liabilities are eventually satisfied. Assets and liabilities can be compared. Assets are items you own or owe money to; liabilities are things you owe money to or have borrowed. A liability is an unfulfilled or unpaid obligation owed by one party to another. A financial liability is an obligation in the world of accounting, but it is more specifically characterized by previous business transactions, events, sales, exchanges of goods or services, or anything else that will generate income in the future.
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Answer:
future value
Explanation:
Future value is the value of a sum of money at some point in the future given a certain interest rate.
Formula for future value = present value x ( 1 + r )^n
Assuming i = 10
the future value of $100 in 5 years = 100 x ( 1.1)^5 = $161.05
Answer:
WoodCore Inc. is involved in exporting.
Explanation:
Exporting is the act of producing a good in the home country, and selling the product abroad.
WoodCore Inc. is involved in exporting because, as an American company, it finishes its products in the United States, but ships a part of the production for sale in Europe.
If instead, it obtained the finished goods from Europe, and sold them in the United States, WoodCore Inc. would be involved in importing.
