The obligations or debts of a business to third party creditors.Select one:a.Assetsb.Journalc.Ledgerd.Liabilities

Break Down the Problem

We need to identify the term that relates to the obligations or debts of a business to third-party creditors from the provided options.

Relevant Concepts

In finance and accounting, terms related to the financial position of a company include assets, journal, ledger, and liabilities.

1. Assets: Resources owned by the business.
2. Journal: A record of financial transactions.
3. Ledger: A book or collection of accounts.
4. Liabilities: Obligations or debts that a business owes to outside parties.

Analysis and Detail

Given the definitions above:

• Assets do not refer to debts but rather what the company owns.
• Journal and Ledger are accounting records, not statuses of obligation.
• Liabilities specifically refer to debts and obligations a business owes to creditors.

Verify and Summarize

The term that accurately describes the obligations or debts of a business is Liabilities.

Final Answer

d. Liabilities