Which of the Following Accounts Is Not a Liability

question 6

Multiple Choice

Which of the following accounts is not a liability?

• A) Sales Tax Payable
• B) Accounts Payable
• C) Accounts Receivable
• D) Ultilities Payable

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Definitions:

MPC

Marginal Propensity to Consume, which measures the proportion of additional income that an individual spends on consumption.

Aggregate Demand

The complete appetite for goods and services in an economy, marked by an overarching price level throughout a specified duration.

Real GDP

The measure of a country's economic output (Gross Domestic Product) adjusted for price changes, such as inflation or deflation, to reflect the real value of goods and services produced.

National Debt

The cumulative sum of funds borrowed by a nation's government.