Liabilities of a Company Would not Include

question 68

Multiple Choice

Liabilities of a company would not include

• A) notes payable.
• B) accounts payable.
• C) salaries and wages payable.
• D) cash.

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Definitions:

Employee Wages

The compensation paid to employees for their labor, including hourly wages, salaries, and other forms of payment for work performed.

Merit Rating

A system of evaluating employees or operations based on performance, often utilized in determining pay raises or operational improvements.

FICA Taxes

Taxes imposed on both employees and employers to fund Social Security and Medicare, based on a percentage of the employee's earnings.

Social Security

A government program that provides financial assistance to people with insufficient or no income, including retirees, disabled individuals, and survivors.