Liability
Expense
Income
Capital
✅ The correct answer is A.
Outsider’s claim against the assets of the business is called Liability. Liabilities are defined as a company’s legal financial debts or obligations that arise during the course of business operations.
Outsider’s claim against the assets of the business is called Liability. Liabilities are defined as a company’s legal financial debts or obligations that arise during the course of business operations.