Which of the Following Is Generally Considered to Be a Liability

question 57

Multiple Choice

Which of the following is generally considered to be a liability?

• A) Accounts receivable
• B) Capital stock
• C) Notes payable
• D) Retained earnings

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Definitions:

Allowance Factors

Elements taken into account to adjust time standards or costs, accounting for various delays or inefficiencies in operations.

Normal Time

The average time in which a task or operation should be completed under normal working conditions.

Lillian Gilbreth

An American psychologist and engineer known as the "mother of modern management," instrumental in developing industrial management techniques and the study of ergonomics.

Frederick Taylor

Known as the father of scientific management, he proposed that work processes could be optimized by breaking them down into smaller tasks and using scientific methods to determine the most efficient ways of performing them.