Liabilities on the Balance Sheet Would Include Which of the Following

question 130

Multiple Choice

Liabilities on the balance sheet would include which of the following?

• A)Accounts payable,notes payable and contributed capital
• B)Accounts receivable,supplies expense and retained earnings
• C)Accounts payable,notes payable and wages payable
• D)Contributed capital,retained earnings and notes payable

Recognize the formation of oppositional identities as a result of social exclusion.

Analyze the influence of media and popular culture on the perception of racial and ethnic groups.

Critically assess the changing nature of racial stratification in the United States.

Understand the social construction of race, gender, and labor within capitalist societies.

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Definitions:

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated as beginning inventory plus purchases minus cost of goods sold.

Net Realizable Value

Net Realizable Value is the estimated selling price of goods, minus the estimated costs of completion and necessary selling costs, used for inventory valuation and accounts receivable.

Inventory

The merchandise and supplies a company maintains with the end purpose of selling or manufacturing.

Periodic Inventory System

A method of inventory management where inventory levels and cost of goods sold are updated in the accounting records on a periodic basis, such as monthly or annually.