What you owe that will require you to give up economic value in the future is a(n) ___________________.

What you owe that will require you to give up economic value in the future is a(n) ___________________.

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


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