Liabilities are reported on the balance sheet.
A balance sheet (sometimes called a balance sheet) provides a snapshot of the financial position of an operation at a particular point in time. These financial statements show assets, liabilities, and equity on a particular date. There are three main categories of liabilities. These are short-term liabilities, long-term liabilities, and contingent liabilities.
Assets are owned by the company and liabilities are borne by the company. Both are listed on the company's balance sheet, which is a financial statement that shows the financial condition of the company. Assets fewer liabilities equal the owner's equity or net worth.
Learn more about liabilities at
https://brainly.com/question/24534918
#SPJ4
