Which of the Following Liabilities Creates No Expense on the Part

question 33

Multiple Choice

Which of the following liabilities creates no expense on the part of the company?

• A)Employment Insurance payable
• B)Canada Pension Plan payable
• C)GST payable
• D)estimated warranty payable

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Definitions:

Consumer Income

The total income received by consumers, including wages, salaries, benefits, and income from investments, which can be spent or saved.

Ice Cream

A frozen dessert made from dairy products, such as milk and cream, combined with flavors and sweeteners, often consumed as a treat or snack.

Normal Good

A type of good for which demand increases as the income of an individual increases.

Major League Baseball

A professional baseball organization comprising teams in the United States and Canada, noted for its significant cultural and economic impact on sports.