Which Statement Is Correct

question 53

Multiple Choice

Which statement is correct?

• A)HST payable is a financial liability.
• B)Bank overdraft is a non-financial liability.
• C)Unearned revenue is a non-financial liability.
• D)Unearned subscriptions are a financial liability.

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Definitions:

Managing Store

The process of overseeing and controlling the operations of a retail store.

Retail Pricing

The strategy and process of setting the sale price of goods sold directly to the consumer, taking into account factors like cost, market demand, and competition.

Store Location

The geographical place where a retail store is situated, which can significantly affect its foot traffic and profitability.

Markup

Markup refers to the difference between the cost of a good or service and its selling price, expressed as a percentage of the cost.