Liabilities

question 45

Multiple Choice

Liabilities:

• A) Must be certain.
• B) Must sometimes be estimated.
• C) Must be for a specific amount.
• D) Must always have a definite date for payment.
• E) Must involve an outflow of cash.

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Definitions:

Loyalty Card

A card issued by a retailer to a customer, used to record credit points awarded for money spent in the store, incentivizing repeat business.

Customer Purchase Information

Data related to the buying habits, preferences, and demographics of consumers.

Syndicated Data

Market research data collected and compiled by an organization, which is then sold to multiple companies to help them understand market trends or consumer behavior.

Commercial Research Firms

Companies specialized in conducting research in the business sector, often providing insights and data to other businesses for strategic purposes.