Which of the Following Liabilities Are Not Related to the Operating

question 165

Multiple Choice

Which of the following liabilities are not related to the operating cycle?

• A) Wages payable
• B) Accounts payable
• C) Utilities payable
• D) Bonds payable

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Definitions:

Time Clocks

Devices used to record the start and end times of employees' work hours.

Internal Control System

A process put in place by a company's management and board of directors to help ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Protect Assets

Measures and strategies implemented by a business or individual to safeguard tangible and intangible assets from loss, theft, or damage.

Internal Control Systems

Procedures and mechanisms implemented by a business to safeguard assets, enhance the reliability of financial reports, and ensure compliance with laws and regulations.