Which of the Following Statements Is True of Liabilities

question 28

Multiple Choice

Which of the following statements is true of liabilities?

• A) Accounts payable are listed in the current liabilities section in alphabetical order by vendor.
• B) Classification of current liabilities is important because of the liquidity concept.
• C) Current liabilities are listed in order of decreasing amounts in the current liability section of the balance sheet.
• D) The accounting principles followed in the U.S.differ from those of other countries; this is especially true for current liabilities.

---

Definitions:

Behavior

The actions or reactions of an organism or individual, usually in relation to the environment or context.

Developmental Needs

The essential requirements necessary for an individual's physical, emotional, intellectual, and social growth and well-being at various stages of life.

Behavior Problems

Actions or attitudes displayed by individuals that are disruptive or undesirable within a given context.

Counselor

A professional who offers guidance on personal, social, or psychological issues.