Which of the Following Accounts Would Be Classified as a Current

question 96

Multiple Choice

Which of the following accounts would be classified as a current liability?

• A)Dividends declared.
• B)Unearned revenue.
• C)Wages expense.
• D)Accounts receivable.

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Definitions:

Market

A system or arena in which commercial dealings are conducted, often defined by the goods or services available for trade.

Externalities

Financial outcomes or repercussions that impact third parties who are not directly involved; these can be positive or negative.

Invisible Hand

A term coined by Adam Smith to describe the self-regulating nature of the marketplace in adjusting supply and demand autonomously.

Marketplace

A physical or digital venue where buyers and sellers come together to exchange goods, services, or information.