Which of the Following May Be a Current Liability

question 125

Multiple Choice

Which of the following may be a current liability?

• A)Withheld Income Taxes
• B)Deposits Received from Customers
• C)Unearned Revenue
• D)All of these

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Definitions:

Proactive Social Responsibility

A business approach where companies take the initiative to improve social welfare, beyond regulatory requirements.

Adverse Social Impacts

Negative effects on society that may result from certain actions or policies, such as increased inequality or damage to community cohesion.

Discretionary Responsibilities

Obligations that an individual or organization chooses to undertake voluntarily, beyond what is legally or contractually required.

Demand Legitimacy

The validity and legitimacy of a stakeholder’s interest in the organization.