Accrued Liabilities Is a Liability Account

question 45

True/False

Accrued Liabilities is a liability account.

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Definitions:

Service Learning

A teaching and learning strategy that integrates meaningful community service with instruction and reflection to enrich the learning experience, teach civic responsibility, and strengthen communities.

Corporation

A legal entity created under state law that is separate from its shareholders and has its own rights and liabilities.

National

Pertaining to or characteristic of a nation; relating to a country or its citizens.

Community Service

Voluntary work intended to help people in a particular area, often organized through groups, schools, or non-profit organizations to support the community.