Which of the Following Items Would NOT Be Recognised as a Liability

question 4

Multiple Choice

Which of the following items would NOT be recognised as a liability?

• A) Advances from customers for goods and services to be delivered later
• B) Estimated warranty on products sold during the year
• C) A dispute with a customer where there is some possibility that the company could lose the dispute
• D) Amounts owing in wages for work done this period to be paid in the next period

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Definitions:

Sistrum

An Egyptian percussion instrument or rattle.

Grave Circle A

An archaeological site located in Mycenae, Greece, notable for its royal burials and rich grave goods dating from the 16th to the 11th century BCE.

Shaft Graves

A type of deep burial structure found in Mycenaean civilization, notable for containing valuable artifacts and indicating social status.

Lion Gate

The main entrance of the Bronze Age citadel of Mycenae in Greece, famous for its lintel topped by a relief sculpture of two lionesses.