Which of the Following Would Not Be Reported as a Liability

question 197

Multiple Choice

Which of the following would not be reported as a liability on the balance sheet?

• A)Accounts Payable
• B)Common Stock
• C)Notes Payable
• D)Salaries and Wages Payable

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Definitions:

Book Value

The net value of an asset or company calculated as total assets minus intangible assets and liabilities.

Variable Costs

Expenses that change in proportion to the production or sales quantities.

Operating Loss

A situation where a company's operating expenses exceed its gross profits or revenues, indicating a loss in its core business activities.

Fixed Costs

Expenses that do not change in total regardless of the level of production or sales activities within a certain range.