Which of the Following Statements Regarding Accounts Payable Is False

question 141

Multiple Choice

Which of the following statements regarding accounts payable is false?

• A)Accounting for accounts payable is really just the flip side of accounts receivable.
• B)Accounts payable arise when a business purchases goods or services on credit.
• C)Accounts payable arise when a business promises to purchase goods or services in the future.
• D)Accounts payable seldom require the payment of interest.

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Definitions:

Labor

The physical and mental effort used in the process of production, or the act of giving birth.

Rh Incompatibility

Rh incompatibility is a condition that occurs during pregnancy if a mother's Rh blood type is negative and her fetus's Rh blood type is positive, potentially leading to hemolytic disease of the newborn.

Rh-Negative

A blood type classification indicating the absence of the Rh factor, a specific protein found on the surface of red blood cells.

Rh-Positive

Refers to the presence of the Rh factor on the surface of red blood cells, a protein that can play a significant role in blood transfusions and pregnancy.