Which Statement Is Not Correct

question 10

Multiple Choice

Which statement is not correct?

• A)A bank loan due in 5 years is a non-financial liability.
• B)Bonds payable are financial liabilities.
• C)Sales taxes payable are non-financial liabilities.
• D)A bank loan due in 90 days is a financial liability.

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Definitions:

Organizational Innovation

The process of creating or adopting new ideas, processes, or products within an organization to improve performance or competitiveness.

Empowerment

The process of granting individuals or groups the power and resources to make decisions, fostering independence and confidence.

Top-level Managers

Executives responsible for overseeing the strategic direction of an organization and making long-range decisions.

Adaptation

The process of adjusting or changing to fit new conditions or environments.