identifying assets and liabilities\ndrag each example into the correct category.\nmoney borrowed from a…
identifying assets and liabilities\ndrag each example into the correct category.\nmoney borrowed from a friend\na loan owed to bank\na truck\na house\nassets\nliabilities
Answer
Brief Explanations:
Assets are resources owned by a company or individual that have economic value. Liabilities are obligations or debts owed to others. Money borrowed from a friend is a debt, so it's a liability. A loan owed to a bank is also an obligation, thus a liability. A truck and a house are owned resources with economic value, so they are assets.
Answer:
Assets: a truck, a house Liabilities: money borrowed from a friend, a loan owed to a bank