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The rare coin collection your grandmother gave you is part of your liabilities. Please select the best answer from the choices provided T F

User Mits
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2 Answers

4 votes

Answer:

false

Explanation:

I took the test and made a 100 on edge

User Turikumwe
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Answer: False. The rare coin collection your grandmother gave you is part of you assets.

Explanation: A liability is when you owe something to someone, you are liable to pay something or do something for someone. Since your grandmother gave you a coin collection, it is known as an asset since it is not owed to anyone or you do not have to pay her for it. As asset is known as a valuable item or property owned by someone.

User Alex Kopachov
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