Which of the Following Accounts Is a Liability

question 159

Multiple Choice

Which of the following accounts is a liability?

• A) Accounts payable
• B) Prepaid expenses
• C) Salary expense
• D) Service revenue

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Population

The total number of people inhabiting a particular territory or geographic area.

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An economic metric that converts the money-value measure of GDP to a measure of real GDP by accounting for inflation or deflation.

GDP Deflator

A measure that reflects the prices of all goods and services produced domestically, accounting for inflation within a country's economy.

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A reference year against which economic growth, price changes, or other data is compared in indexes or other statistical measures.