Which of the Following Is a Current Liability

question 71

Multiple Choice

Which of the following is a current liability?

• A) accounts receivable
• B) cash
• C) notes payable
• D) inventory

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Definitions:

Consumer Education

Programs and efforts designed to inform individuals about their rights, responsibilities, and savvy practices when purchasing goods and services.

Legal Action

The process of pursuing a lawsuit or litigation to enforce or defend one's legal rights.

Ad Substantiation

An FTC standard requiring that advertisers have a reasonable basis for the claims made in their ads.

Reasonable Basis

A concept often used in law and regulations, referring to a well-founded rationale for decisions or actions.