Which Is Not an Example of a Non-Financial Liability

question 78

Multiple Choice

Which is not an example of a non-financial liability?

• A)Warranty liability.
• B)Bank loan.
• C)Income taxes payable.
• D)Deferred revenue.

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Definitions:

Direct Materials Cost

The cost of raw materials that can be directly attributed to the production of a finished good.

Activity-Based Costing

A costing methodology that assigns overhead and indirect costs to specific products or activities based on their consumption of resources.

Direct Labor-Hours

The total hours worked by employees directly involved in the production of goods.

Direct Materials Cost

The cost of raw materials that are directly traceable to the production of a specific product.