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1 week ago | 1
I choose the fourth option because notes payable is a Liability or a debt that requires payment ❤
1 week ago
| 1
Why the retained earnings are liabilities? For the same reason for the equity. The equity in the balance sheet is classified as a liability. The purpose of the retained earnings is to sustain, reinforce the onwer's funds. This is why one can rightly argue that the retained earnings are liabilities. Where do you see 'retained earnings'? In the balance sheet. Which side of the balance sheet? At the liability side.
1 week ago
| 2
Do you have any videos where you tell us exactly what is asset, liability and equity? I do get confused many times 😅
1 week ago
| 1
Accounting Stuff
Which of the following is a Liability?
1 week ago | [YT] | 246