Liabilities are: a. any accounts having credit balances after closing entries are made. b. deferred credits that are recognized and measured in conformity with generally accepted accounting principles...

Liabilities are: a. any accounts having credit balances after closing entries are made. b. deferred credits that are recognized and measured in conformity with generally accepted accounting principles c. obligations arising from past transactions and payable in assets or services in the future. d. obligations to transfer ownership shares to other entities in the future.