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31-01-2020
Business

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Which management assertion is usually most relevant for liability accounts? 1. Completeness. 2. Existence.3. Rights and obligations. 4. Presentation and disclosure. 5. None of the above

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31-01-2020

Answer:

The right answer is 3. Rights and obligations.

Explanation:

Liability accounts include all those financial obligations that a company has with suppliers, accounts payable, taxes, among others.

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