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3 years ago

"liabilities are obligations denominated in precise monetary terms." do you agree or disagree? Explain.

Business

2 answers:

alexgriva [62]3 years ago

6 0

Answer:

<h2>Disagree.</h2>

Explanation:

Liability refers to an obligation, generally speaking.

This concept often refers to a company's legal financial debts or obligations that appear during the company operations. However, not only refer to monetary term. Obligations can also imply goods or services. That's why the answer here must be "disagree", because the given statement defines it just in monetary terms.

Therefore, liability includes loans, mortgages, deferred revenues, accounts payable, goods and services which depend on the type of corporation.

Korolek [52]3 years ago

4 0

Disagree. Liabilities can be met in ways other than money.

In accounting, a liability is a debt that is owed and must be payed with money, but there are also legal liabilities and other obligations that are not monetary.

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