Direction: In the following questions, out of the four alternatives choose the one which best expresses the meaning of the given word.
-
LIABILITY
-
- debt
- debit
- asset
- credit
Correct Option: A
debt (Noun) : a sum of money that somebody owes
liability (Noun) : the state of being legally responsible for
something
debit (Noun) : a written note in a bank account or other financial record of a sum of money
spent
asset (Noun) : a person or thing that is valuable or useful; a thing of value–property, money, etc.
credit (Noun) : an arrangement that you make, to pay later for something you buy
