Which of the Following Items Is Not a Liability

question 75

Multiple Choice

Which of the following items is not a liability?

• A) The balance due on your credit card
• B) Your college loans
• C) The wages you give up to take a class
• D) An IOU to your roommate

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Definitions:

Total Job Cost

The sum of all costs assigned to a specific job or project, including materials, labor, and overhead.

Unit Product Cost

The complete expenditure involved in creating a single unit of a product, which includes the costs of direct materials, direct labor, and the apportioned overhead.

Unit Product Cost

The total cost associated with producing one unit of a product, including both direct costs and allocated indirect costs.

Machine-Hour

A measure of production output or usage time based on the hours a machine is operated.