The correct answer is ?(ii), (iii) and (iv)Liability: A liability is something (usually a sum of money) which a business enterprise owes to the outside parties. Liabilities are legal obligations of the organization to third parties. For Example- Bills payable, creditors, loans, etcLiability verification is just as crucial as asset verification. Important PointsObjectives of Liability Verification:Liabilities are properly disclosed. Liabilities are properly valued. The ownership of liabilities is properly recognized. The obligation of the liability must be ensured. Liabilities are properly classified and presented in the Balance Sheet.