Identify the Account Below That Is Classified as a Liability

question 67

Multiple Choice

Identify the account below that is classified as a liability account:

• A)Cash
• B)Accounts Payable
• C)Salaries Expense
• D)Common Stock
• E)Equipment

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Definitions:

Vertical Mergers

A combination of two or more companies involved in different stages of the supply chain process for a specific product or service.

Economic Efficiencies

A measure of how well resources are used to achieve economic goals, minimizing waste and maximizing output.

Clayton Act

A U.S. antitrust law enacted in 1914 to prevent anti-competitive practices in their incipiency and to supplement the Sherman Antitrust Act.

Market Power

The ability of a company or entity to influence or control prices and market conditions within a particular industry or market segment.