The correct answer is B. Taking out loan to go on vacation.
Liability is termed as future sacrifices of benefits which are obliged to other entities. There are characteristics which explains what is liability.
For example, A type of borrowing from banks or from persons to improve personal income and which is being paid within the given period of time.
Liability can be based on constructive obligations or equitable obligations.
We can say that we get the asset when liability is being added to owners equity.
David Livingstone was a Scottish missionary, whilst Cecil Rhodes was an English businessman. Both somewhat helped kick start more colonization in Africa, with Livingstone creating a general curiosity of the Nile River, while Rhodes is quoted with starting the British Imperialism in South Africa. Rhodes is technically the founder of South Africa, while Livingstone was a missionary and explorer and was very interested in social justices, such as "rags to riches" and held an anti-slavery stance.
Farms stayed small with only family to help run them.
