Liabilities are C. The amounts a company owes to others such as debt and taxes owed.
It should be noted that a liability simply means the future sacrifice of economic benefits that an entity is obliged to make.
In this case, it simply means what an individual or company owes others. It's different from an asset.
A liability is something a person or company owes, which is usually a sum of money and are settled over time through the transfer of economic benefits such money, goods, or services. Examples of liabilities include debt and taxes owed.
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