The total indebtedness of a business is the same as its

Assessment: WAEC SSCE - Commerce - 1995 (Objective) Subject: Commerce

Question 1 Report

The total indebtedness of a business is the same as its
Answer Details
The total indebtedness of a business refers to the total amount of money that the business owes to its creditors or lenders. This includes both short-term and long-term debts. Liabilities are the financial obligations that a business owes to others, including both current and long-term debts. Therefore, the total indebtedness of a business is the same as its liabilities. It represents the amount of money that the business has borrowed and must repay in the future.
Read lesson note on Legal Aspects Of Business (JAMB)
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