What defines the purpose of a liability account, Accounting Basics

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What defines the purpose of a liability account

Question: Which of the following defines the purpose of a "liability" account? An account used to record the money the organization owes to its creditors An account used to record the value of items owned by the business An account used to track cash flow and assets over a specific period of time An account used to record the owners worth of interest in the business

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Accounting Basics: What defines the purpose of a liability account

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