A Form 1099 with No Withholdings Where Withholdings Should Exist

question 34

Multiple Choice

A form 1099 with no withholdings where withholdings should exist may be a fraud symptom for which liability account?

• A) Accounts Payable
• B) Unearned Revenues
• C) Contingent Liabilities
• D) Accrued Liabilities

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Definitions:

Estimated Probability

A statistical measure expressing the likelihood of a specific event occurring based on current evidence or past occurrences.

Instances

Specific examples or occurrences of a particular event, situation, or phenomenon.

Subjective Utility

An individual's perceived value or satisfaction obtained from consuming goods or services.

Individual's Willingness

Refers to the level of readiness or eagerness a person has to engage in a particular behavior or action.