Which of the Following Items Is Not a Liability

question 75

Multiple Choice

Which of the following items is not a liability?

• A) The balance due on your credit card
• B) Your college loans
• C) The wages you give up to take a class
• D) An IOU to your roommate

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Definitions:

International Monetary Fund (IMF)

Organization established in 1947 to promote trade among member nations by eliminating trade barriers and fostering financial cooperation.

Developed Countries

Nations with advanced economic systems, higher standards of living, and well-established infrastructures, often characterized by high Gross Domestic Product (GDP) per capita.

Balance-of-Payment Deficits

A situation where the total amount of money a country spends on foreign trade is greater than the amount it earns from such trade.