Match Each of the Following Current Liabilities with Its Meaning

question 27

Multiple Choice

Match each of the following current liabilities with its meaning.
-Social security and medicare taxes owed.

• A)Account payable
• B)Note payable
• C)Wages payable
• D)Interest payable
• E)Sales taxes payable
• F)FICA taxes payable
• G)Unemployment taxes payable
• H)Unearned sales revenues
• I)Estimated warranty liability

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Definitions:

Private-label Brands

Products manufactured by one company for sale under another company's brand, commonly found in groceries and chain stores, offering a competitive alternative to national brands.

Retailers

Businesses that sell goods and services directly to consumers through various channels, including physical stores, online platforms, and catalogues, acting as intermediaries between manufacturers and end-users.

Line Extension

The introduction of additional items in a product line under the same brand name, often new flavors, forms, colors, added ingredients, or package sizes.

Brand Strategy

A plan developed by a business to create a particular image of itself and its products or services in the minds of consumers, distinguishing it from its competitors.