Question

On the balance sheet, the amounts a corporation owes to various creditors are referred to as ____.

A. liabilities

B. assets

C. budgets

D. diseconomies

E. expenses

Answer 1

Liabilities on the balance sheet of a corporation refer to the amounts owed to various creditors.

Step-by-step explanation:

On the balance sheet, the amounts a corporation owes to various creditors are referred to as liabilities. Liabilities represent the company's obligations or debts that it must pay in the future. Examples of liabilities on a balance sheet include accounts payable, loans, and bonds.