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Which of the following is true regarding the president as chief executive?
Legal Liabilities
Obligations arising from laws or regulations that a company is required to pay, such as fines, settlements, or judgments.
Sick Pay Payable
A liability account that represents the amount of sick pay owed to employees but has not yet been paid.
Notes Payable
Liabilities representing amounts borrowed by a company that must be repaid, often with interest, as evidenced by a promissory note.
Notes Payable
A financial obligation represented by a written promise to pay a certain amount on a specific future date or dates, typically encompassing loans or credit extended by one party to another.
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