Which of the Following Is Not a Current Liability

question 1

Multiple Choice

Which of the following is not a current liability?

• A) Salaries and Wages Payable
• B) Accounts Payable
• C) Taxes Payable
• D) Bonds Payable

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Definitions:

Perfect Competition

A theoretical market structure characterized by many buyers and sellers, homogenous products, and no barriers to entry or exit, leading to optimal distribution of resources.

Lose Customers

The consequence faced by a business when it fails to meet the needs or expectations of its consumers, leading to a decrease in its customer base.

Monopolistic Competition

A market structure characterized by many sellers offering differentiated products, leading to some degree of market power.

Average Total Cost

The total cost of production (fixed and variable costs combined) divided by the number of units produced.