A Liability Is a Future Payment of Assets or Services

question 69

True/False

A liability is a future payment of assets or services that a company is currently obligated to make as a result of past transactions or events.

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Definitions:

Reliability

The extent to which an instrument, tool, or process is consistently accurate and dependable when measuring what it is intended to measure.

Validity

The extent to which a test, measurement, or research accurately represents what it is intended to measure.

Psychological Assessment

Psychological Assessment is the process of using a combination of techniques to help arrive at some hypotheses about a person and their behavior, personality, and capabilities.

Prospective Study

A research design in which subjects are followed forward in time to observe outcomes or effects of certain variables.