A ________ Represents a Long-Term Debt Obligation Issued by a Corporation

question 109

Multiple Choice

A ________ represents a long-term debt obligation issued by a corporation or a government.

• A) share of stock
• B) commercial note
• C) certificate of deposit
• D) bond

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Definitions:

Tax Expense

The amount of taxation a company is required to pay to various tax authorities, based on its earnings.

SUTA Tax Payable

The liability owed by employers to the state for the State Unemployment Tax Act, used to fund unemployment benefits.

Payroll Tax Expense

Payroll Tax Expense is the employer's cost associated with the employment of staff, including taxes such as social security and Medicare taxes that must be paid based on salaries.

Wages Payable

A liability account representing the amount owed to employees for work performed but not yet paid.