Which of the Following Items Is Not Reported as a Liability

question 1

Multiple Choice

Which of the following items is not reported as a liability in the financial reports of a defined contribution plan?

• A) Income tax payable.
• B) Accounts payable.
• C) Accrued member benefits.
• D) None of the given choices are correct.

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Definitions:

General Sense

Pertains to the basic or common understanding of a concept or perception applicable across different contexts.

Taste

is one of the five senses, involving the perception of flavor from substances on the tongue, mediated by taste buds.

General Sense

Refers to the basic or overall understanding and perception of a topic or issue without delving into specific details.

Touch

A sensation perceived through the skin's receptors that involves the detection of pressure, temperature, and pain.