What you owe that will require you to give up economic value in the future is a(n) ___________________.
a. Asset
b. Liability
c. Expense
d. Cost
Answer: b. Liability
What you owe that will require you to give up economic value in the future is a(n) ___________________.
a. Asset
b. Liability
c. Expense
d. Cost
Answer: b. Liability