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Serena has been very successful in residential sales but now wants to work as a single agent business broker. Which of the following will she not be doing when she is representing the business owner?
A. Listing the business for sale.
B. Determining the value of the business.
C. Noting all the assets and liabilities that belong to the business.
D. Representing the buyer and obtaining a purchase agreement.

Answer :

Noting all the assets and liabilities that belong to the business.

Thus, the correct option is C.

What do you mean by liability?

A liability is a debt that a person or business has, typically in the form of money. Through the transmission of economic benefits like money, products, or services, liabilities are eventually satisfied.

Liabilities are items that are listed on the balance sheet's right side and consist of debts including loans, accounts payable, mortgages, deferred income, bonds, warranties, and accumulated expenses.

Assets and liabilities can be compared. Assets are items you own or owe money to; liabilities are things you owe money to or have borrowed.

Depending on their temporality, liabilities are classed as current or non-current. They can be a future responsibility to provide services to others or a recent transaction that left an unresolved duty.

Learn more about liabilities, here

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