Which of the Following Accounts Is a Liability

question 1

Multiple Choice

Which of the following accounts is a liability?

• A) Accounts Payable
• B) Accounts Receivable
• C) Wages Expense
• D) Service Revenue

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Definitions:

Co-Op Advertising

An advertising partnership where costs and advertising space are shared between two parties, typically a manufacturer and a retailer.

Retail Advertising

The process of promoting and selling products directly to the end consumer through various media channels.

Management Information System

A system integrating software and hardware designed to provide managers with information to support strategic decision-making.

Customer Buying Patterns

The behaviors and trends displayed by consumers when making purchasing decisions, including factors like frequency, timing, and preferences.