Interest Payable, Salaries Payable, and Accounts Payable Are

question 20

Multiple Choice

Interest Payable, Salaries Payable, and Accounts Payable are:

• A) non-current assets
• B) current assets
• C) non-current liabilities
• D) current liabilities

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Definitions:

Statute of Frauds

A legal principle that requires certain types of contracts to be in writing and signed by the parties involved in order to be enforceable.

Writing

The activity or skill of marking coherent words on paper and composing text.

Corporate Liability

Legal accountability or responsibility of a corporation for its actions or omissions, which can include financial obligations, damages, and penalties.

Dock Damage

Damage incurred to a dock or a vessel moored at a dock, usually due to accidents or natural events.