Match Each of the Following Current Liabilities with Its Meaning

question 144

Multiple Choice

Match each of the following current liabilities with its meaning.
-federal employment taxes

• A)account payable
• B)note payable
• C)wages payable
• D)interest payable
• E)sales taxes payable
• F)CPP payable
• G)employment taxes payable
• H)unearned sales revenues
• I)estimated warranty liability

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Definitions:

Marginal Revenue

The supplementary income obtained from the sale of an extra unit of a product or service.

Total Revenue

The aggregate monetary gain a corporation obtains from its product or service sales, without accounting for any expenditures.

Demand Schedule

A table outlining the different quantities of goods or services that consumers are interested in and can feasibly buy at numerous price levels.

Total Revenue

The total income generated by the sale of goods or services before any costs are deducted.