Which of the Following Is Not Considered to Be a Liability

question 53

Multiple Choice

Which of the following is not considered to be a liability? 

• A) Wages payable.
• B) Accounts payable.
• C) Notes payable.
• D) Cost of goods sold.

Understand the legal remedies available for breach of warranty.

Comprehend the conditions under which implied warranties of merchantability and fitness for a particular purpose arise.

Analyze the impact of good faith attempts by sellers to repair or replace goods in the context of warranty obligations.

Identify the role of consumer expectations in determining merchantable quality of goods.

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Definitions:

Firewall

A system (either hardware, software, or a combination of both) that prevents a specific type of information from moving between untrusted networks, such as the Internet, and private networks, such as your company’s network.

Untrusted Networks

Networks that are not secure, where the risk of data interception and unauthorized access is higher.

Private Networks

Networks designed for specific organization or group use, not accessible by the general public.

DMZ

A demilitarized zone in networking is a physical or logical subnetwork that separates an internal local area network (LAN) from other untrusted networks, typically the Internet.