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Which of the following is not a true statement about the court's ruling in Lebron v. Secretary, Florida Department of Children and Families?
Liability
An entity's financial obligation or debt, incurred during business operations, that it is obligated to pay to another entity.
Interest Expense
The total charges faced by a business for financing through borrowed money over a duration.
Interest Payable
The amount of interest expense that has been incurred but not yet paid by a company during a given period.
Current Liabilities
Short-term financial obligations that are due to be paid within one year, including accounts payable, short-term loans, and taxes payable.
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