Which of the Following Are Accrued Liabilities

question 27

Multiple Choice

Which of the following are accrued liabilities?

• A) Taxes payable
• B) Interest payable
• C) Salary payable
• D) All of the above

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Definitions:

Customers Pay

refers to the transactions where customers remit payment for goods or services received from a business.

Prepaid Freight

Costs paid by a shipper in advance for shipment of goods, indicating that the sender bears the freight charges.

Cash Discount

A reduction in the invoice price offered to buyers as an incentive for early payment.

Wholesalers

Companies that sell merchandise to other businesses rather than to the public.