Which of the following is the best definition of a liability in accounting? A. Anything your company owes to someone besides the business owner B. A debt your business owes that must be repaid during the

Which of the following is the best definition of a liability in accounting?

A. Anything your company owes to someone besides the business owner
B. A debt your business owes that must be repaid during the present accounting period
C. Anything your company needs to sell during the present accounting period
D. Anything your company owes to the business owner

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