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The obligations of an enterprise other than owner’s fund are known as: 
  • a)
    Assets 
  • b)
    Liabilities 
  • c)
    Capital 
  • d)
    None of these
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
The obligations of an enterprise other than owner’s fund are kno...
The obligations of an enterprise other than owner's fund are known as liabilities and also known as external equities. It is that amount which is payable to outsiders.
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Most Upvoted Answer
The obligations of an enterprise other than owner’s fund are kno...
The obligations other than the owner's fund are called liabilities here liabilities doesn't means items shown in the liabilities side of balance sheet but it means outside liabilities.
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The obligations of an enterprise other than owner’s fund are known as:a)Assetsb)Liabilitiesc)Capitald)None of theseCorrect answer is option 'B'. Can you explain this answer?
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