need help with basic financial system class...please

Question 1 (1 point) which of the following best describes a liability? Liabilities are future economic benefits to which a company is entitled. Liabilities are a form of share capital. O Liabilities are accounts receivable of the company. Liabilities are economic obligations to creditors to be paid at some future date by the company Question 2 (1 point) Losses are reported on the: O cash flow statement O balance sheet O statement of retained earnings income statement Question 3 (1 point) Common shares is a component of share capital O retained earnings O total liabilities O total assets Question 4 (1 point) Purchases and sales of non-current assets are examples of: O operating activities investing activities financing activities dividend activities Question 5 (1 point) When a repurchase of shares is done by a company it: increases the amount of total liabilities O decreases the amount of owners' equity decreases the amount of total liabilities O increases the amount of owners' equity