what is the definition of liability?\n○ the amount a consumer must pay after an incident before the…

what is the definition of liability?\n○ the amount a consumer must pay after an incident before the insurance company starts paying\n○ the monthly amount paid for insurance\n○ intentionally destroying something in order to collect insurance\n○ a responsibility to pay for or fix a problem

what is the definition of liability?\n○ the amount a consumer must pay after an incident before the insurance company starts paying\n○ the monthly amount paid for insurance\n○ intentionally destroying something in order to collect insurance\n○ a responsibility to pay for or fix a problem

Answer

Brief Explanations:

In business - finance and accounting, liability is a financial obligation. It represents a responsibility to pay for or fix a problem. The first option is a deductible, the second is a premium, and the third is insurance fraud.

Answer:

D. a responsibility to pay for or fix a problem