Which One of the Following Groups of Accounts Contains Only

question 65

Multiple Choice

Which one of the following groups of accounts contains only liabilities?

• A)Accounts payable, retained earnings, notes payable.
• B)Supplies expense, cost of goods sold, interest expense.
• C)Wages payable, mortgage payable, taxes payable.
• D)Contributed capital, accounts payable, retained earnings.

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Definitions:

Social Media

Websites and applications designed for social networking, content sharing, and community engagement, allowing users to create and share content or participate in social networking.

Discounts

Reductions from the usual cost of goods or services offered to customers, typically to encourage purchases.

Global Brand

A brand that is marketed under the same name in multiple countries.

Multiple Countries

The involvement of more than one country in a particular context, such as a business operating in several countries or a study conducted across national borders.