Which of the Following Is Usually Not an Accrued Liability

question 174

Multiple Choice

Which of the following is usually not an accrued liability?

• A) Interest payable
• B) Wages payable
• C) Taxes payable
• D) Notes payable

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Definitions:

Exempt Workers

Employees not covered by the Fair Labor Standards Act (FLSA), often not eligible for overtime pay due to their job type.

Promissory Estoppel

A legal principle preventing a party from retracting a promise which the other party has reasonably relied upon to their detriment.

Family and Medical Leave Act

A U.S. federal law that provides employees with unpaid, job-protected leave for certain family and medical reasons.

Employer Notification

The requirement for employers to inform their employees or governmental bodies about certain workplace changes, health and safety issues, or benefits entitlements.