Which of the Following Accounts Is an Example of a Liability

question 42

Multiple Choice

Which of the following accounts is an example of a liability?

• A) Service revenue
• B) Building
• C) Accounts receivable
• D) Notes payable

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Definitions:

Vigilance Societies

Groups formed by private citizens to act as self-appointed law enforcement to protect community interests, often present in areas where they perceived official law enforcement as inadequate.

Slaves Escape

The act of enslaved individuals fleeing from their captors or slaveholders to seek freedom, often through networks like the Underground Railroad in the United States.

Free Blacks

Refers to African Americans who were not enslaved before the abolition of slavery in the United States.

Light and Truth

A symbolic or philosophical concept often associated with enlightenment, knowledge, and the inherent goodness of honesty.