Which of the Following Accounts Is NOT an Example of a Liability

question 76

Multiple Choice

Which of the following accounts is NOT an example of a liability?

• A) Wages payable
• B) Notes payable
• C) Accounts payable
• D) Accounts receivable

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Definitions:

Production Function

A production function describes the relationship between inputs used in production and the output generated from those inputs.

Marginal Product

The additional output gained by adding one more unit of a specific input, keeping all other inputs constant.

Profitability

A measure of the ability of a company or a business sector to generate earnings compared to its expenses and other relevant costs incurred during a specific period of time.

Employment

The state of having paid work, being engaged in an occupation or job.