Which of the Following Liabilities Are Not Related to the Operating

question 82

Multiple Choice

Which of the following liabilities are not related to the operating cycle?

• A) Salaries and wages payable
• B) Accounts payable
• C) Utilities payable
• D) Bonds payable

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Definitions:

Market Failure

An instance where goods and services are distributed by an unregulated market in a manner that is not optimum, frequently causing a reduction in the total wellbeing of society.

Public Sector

The part of an economy that is controlled by the government, including public services and enterprises.

Capitalist Societies

Social systems that rely on private ownership of the means of production and operate on profit and market competition.

Political Power

The ability or authority to influence people's behavior or the course of events, often used within the context of government, organizations, or societies.