(Answered) Discussion- assets and liabilities accountas we are aware

Accounting

Discussion- Assets and Liabilities Account

As we are aware, assets are the economic resources of a company while liabilities are claims of creditors on the resources of a company. With that definition and understanding, find an account that can appear under Assets as well as Liabilities in a Balance Sheet.

Explain why or why not this will be possible

Text Book: INTERNATIONAL FINANCIAL STATEMENT ANALYSIS by Thomas R. Robinson, Elaine Henry, Wendy L. Pirie and Michael A. Broihahn, Third Edition.

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