Which of the Following Accounts Appear in the Liabilities Section

question 19

Multiple Choice

Which of the following accounts appear in the liabilities section of the balance sheet?

• A)Accounts payable,notes payable,allowance for doubtful accounts
• B)Warranties payable,discount on notes payable,accounts payable
• C)Notes payable,discount on notes payable,credit card receivables
• D)Accounts payable,allowance for doubtful accounts,warranties payable

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Definitions:

CSB

Canadian Savings Bonds, a secure savings product issued and guaranteed by the Government of Canada.

Compound-Interest

A method of calculating interest where the amount is based on the initial principal and the interest that has been accumulated in past periods.

Compounded Quarterly

Involves calculating interest on an investment by adding the accrued interest back into the principal at the end of each quarter, effectively earning interest on interest.

GIC

Guaranteed Investment Certificate, a Canadian investment that offers a guaranteed rate of return over a fixed period, typically without the risk of losing the principal invested.