Which of the Following Events Does Not Create a Liability

question 5

Multiple Choice

Which of the following events does not create a liability?

• A)Buying goods and services on credit
• B)Obtaining a short-term loan
• C)Issuing long-term debt
• D)Remitting sales tax to the government

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Definitions:

Radical Reconstruction

The phase (1867-1877) following the American Civil War, characterized by severe measures to reintegrate the Southern states and ensure civil rights for freed slaves.

Federal Government

The national government of a federation, holding authorities and responsibilities distinct from those of member states or provinces, particularly in matters of national concern.

Reconstruction

The era following the Civil War in the United States, during which the southern states were reconstructed and reincorporated into the Union, spanning from 1865 to 1877.

Land Policy

The set of laws and regulations governing the use, development, and preservation of land, often shaping the patterns of land ownership and land use in a country or region.