Which of the Following Is Usually Not an Accrued Liability

question 174

Multiple Choice

Which of the following is usually not an accrued liability?

• A) Interest payable
• B) Wages payable
• C) Taxes payable
• D) Notes payable

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Definitions:

Bankruptcy Law

A legal framework governing the process through which individuals or businesses unable to meet their financial obligations can seek relief from debts.

Debtors

Individuals or entities that owe money to another party.

Relief

Assistance or aid given to those in hardship, or a legal remedy provided by a court to enforce a right or redress a harm.

Hourly Wage Rate

The amount of money paid for each hour of work, commonly used to calculate compensation for part-time or temporary employees.