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:

Intangible

Something that cannot be touched or physically measured, such as intellectual property or goodwill.

Joint Tenants

A form of co-ownership where parties own property in equal shares and have the right of survivorship, meaning if one owner dies, the property automatically passes to the surviving owner(s).

Tenants in Common

A form of co-ownership where each owner holds an individual, undivided ownership interest in the property, which can be passed to their heirs.

Lot A

Typically refers to a designated plot of land, often identified in plans for development or subdivision.