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7 February, 10:07

Liabilities are items you own that have value.

True False

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  1. 7 February, 10:23
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    That statement is false.

    Liabilities are items that you owed to another people because of a certain transaction. (such as when you buy a certain product on credit)

    We refers valuable items that we owned as an asset, which we could use to fund the operation that generate more wealth for us.
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