Business Finance Homework Help

VInstructions:

• In your own words describe what a liability is, name and define at least three different types of liabilities and discuss how they are presented on the financial statements.
• In your own words discuss contingent liabilities. What are some examples of contingent liabilities and how is their value on the balance sheet determined? Had you heard of a contingent liability before? What did you think about this new concept?

• Discuss anything that you found particularly interesting, or particularly difficult to understand. This is important as this will help me to help you.
• After you have replied, please respond to at least two of your classmates postings and further discuss this week’s discussion topic with each other.
• Make sure your responses are meaningful and discuss what your classmates have shared and your thoughts on it. Avoid posting short responses like “I agree”.
• If there is anything that your classmates are having trouble understanding and you can help, please do!