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sergey [27]
2 years ago
7

"obligation to transer cash or other resources as a result of a past transaction" is called ____________

Business
1 answer:
spin [16.1K]2 years ago
7 0

Answer:

The correct answer is: Liability.

Explanation:

A liability is an obligation that arises during the course of business. It represents a third party's claim in the company's assets usually from lenders or other creditors. Liability can arise in many different ways. Liabilities can be borrowing or a promise to pay later or any other type of obligation because of past transactions.

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