All of the Following Accounts Are Liabilities Except

question 56

Multiple Choice

All of the following accounts are liabilities except

• A) Notes Payable
• B) Accounts Payable
• C) Utilities Payable
• D) Accounts Receivabe

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Definitions:

Fair Value

An estimation of the market value of an asset or liability based on the assumptions market participants would use when pricing the asset or liability.

Derivatives

Financial instruments whose value is derived from the value of one or more underlying assets or indices.

Hedges

Financial strategies or instruments used to offset potential losses or gains in another investment or position.

Market Rate

The prevailing interest rate or cost of borrowing in the financial markets, or the standard price in the marketplace for a certain good or service.