Examlex
Which of the following statements is TRUE?
Liability
Financial obligations or debts owed by a business to others, which must be settled over time through the transfer of economic benefits.
Cash Flows
The inflows and outflows of cash and cash equivalents, reflecting the operational, investing, and financing activities of a business.
Wages and Salaries
Compensation paid to employees for their labor, including hourly pay (wages) and fixed annual or monthly pay (salaries).
Operating Activities
Operating activities involve the core business functions of a company, including production, distribution, and sales, determining cash flow from primary business operations.
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