Which of the Following Statements Is Not True About Liabilities

question 199

Multiple Choice

Which of the following statements is not true about liabilities?

• A) Liabilities are debts owed to outsiders.
• B) Account titles of liabilities often include the term "payable."
• C) Cash received before a service is performed creates a liability.
• D) Liabilities include accumulated depreciation.

---

Definitions:

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a given person's mind when evaluating a specific topic, concept, method, or decision.

Indelible Memories

Memories that are so vivid and clear that they seem impossible to forget, often due to their emotional intensity.

Terrorist Tragedy

A devastating event caused by acts of terrorism, leading to loss of life, injury, and psychological trauma among individuals and communities.

Statistically

Pertains to or based on the principles of statistics, often used in analysis to represent data or trends numerically.