Which of the Following Is a Liability Account

question 93

Multiple Choice

Which of the following is a liability account?

• A) Accounts Payable
• B) Prepaid Expense
• C) Salaries Expense
• D) Service Revenue

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Definitions:

Degrees Of Freedom

The number of independent values in a statistical calculation that are free to vary when estimating some parameter.

Interaction

In statistics, the way two or more variables are related in such a manner that the effect of one variable on an outcome is dependent on the level or value of another variable.

Significance Level

A threshold in hypothesis testing used to determine if the null hypothesis should be rejected, commonly denoted as alpha (α).

Estimates

Approximations or predictions of unknown values based on available data.