Liabilities Our textbook tells us that liabilities are obligations of the entity or as defined by the FASB, “probable future sacrifices of economic

Liabilities

Our textbook tells us that liabilities are obligations of the entity or as defined by the FASB, “probable future sacrifices of economic benefits arising from present obligations of a particular entity to transfer assets or provide services to other entities in the future as a result of past transactions or events”.

Explain how liabilities are necessary and even a good thing for a business. (Hint: why use your money when you can use someone else’s money.) 

Your responses should be in essay format. This means you need to use paragraphs. Do NOT use bullet points or numbered lists. Do NOT use bold. There should be no words in bold in your response.

Use only quality academic peer-reviewed sources. Do NOT use websites, especially anything with “pedia” in the name. 

Share This Post

Email
WhatsApp
Facebook
Twitter
LinkedIn
Pinterest
Reddit

Order a Similar Paper and get 15% Discount on your First Order

Related Questions

English literature paragraph: Write a 250-word response to the week’s reading prompt: Set on a foreign planet inhabited by insect-like beings, “Bloodchild”

English literature paragraph: Write a 250-word response to the week’s reading prompt: Set on a foreign planet inhabited by insect-like beings, “Bloodchild” is a coming-of-age story, raising provocative questions about sex roles, self-sacrifice, colonization, and species- interdependence. How does this theme of the coming-of-age story function throughout the short story?

Academic Counseling  Assessment Desuсrіption: Educational institutions are evaluated on student outcomes, especially academic achievement. As such, school

Academic Counseling  Assessment Desuсrіption: Educational institutions are evaluated on student outcomes, especially academic achievement. As such, school counselors are tasked with supporting students in the area of academic development through the enhancement of knowledge, skills, and attitudes. The school counselor’s role in academic development focuses on fostering safe and inclusive learning

Wk 1 Environmental Disaster Memo Guide Use the following instructions to help you complete the Wk 1 – Summative Assessment: Environmental Disaster

Wk 1 Environmental Disaster Memo Guide Use the following instructions to help you complete the Wk 1 – Summative Assessment: Environmental Disaster Memo. Instructions Read “Environmental Disasters” from the University Library.   Choose1 environmental incident from “Environmental Disasters.”   Researchthe environmental incident you selected. ·         Find at least 5 additional resources related

Hello, I need help with a discussion post: 4-1 Discussion: Etiquette of Business Communications Read the article linked below, which lists and describes

Hello, I need help with a discussion post: 4-1 Discussion: Etiquette of Business Communications Read the article linked below, which lists and describes actionable best practices to improve equity and inclusivity in the workplace. Discuss your personal experience with business communication and discuss possible ways to approach communicating in different