Match Each of the Following Terms Pertaining to Liabilities to Their

question 181

Multiple Choice

Match each of the following terms pertaining to liabilities to their definitions.
-A liability that involves an existing condition for which the outcome is not known with certainty and depends on some future event.

• A)Current liability
• B)Accounts payable
• C)Notes payable
• D)Discount on notes payable
• E)Current maturities of long-term liabilities
• F)Accrued liabilities
• G)Contingent liability
• H)Estimated liability

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Definitions:

Industrial Services

Services provided to businesses or industries, such as maintenance, cleaning, consulting, and logistics, rather than individual consumers.

Complementary Products

Goods or services that enhance or are used together with another product, increasing its value or utility.

Stock Keeping Unit

A scannable barcode, often seen as a number or code on products, that allows items to be tracked in inventory.

Unique Identification

A specific identifier assigned to an individual, product, or entity that distinguishes it from others within a system or market.