Match Each of the Following Current Liabilities with Its Meaning

question 26

Multiple Choice

Match each of the following current liabilities with its meaning.
-Amounts funded by companies to provide benefits to fired workers.

• 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:

Environmental Protection Agency

A U.S. federal agency responsible for protecting human health and the environment by enforcing regulations based on laws passed by Congress.

Pollution Emissions

The release of harmful substances into the environment as a result of human activities.

Emission Standards

Regulations set by governments to limit the amount of pollutants released into the environment from vehicles, factories, and other sources.

Property Rights

Legal rights to possess, use, and dispose of assets including real estate, personal property, and intellectual property. These rights ensure ownership security and encourage investment.