Which of the Following Is NOT Classified as a Current

question 54

Multiple Choice

Which of the following is NOT classified as a current liability account?

• A) accounts payable
• B) mortgage payable
• C) salaries and wages payable
• D) income taxes payable

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Definitions:

Ownership Of Capital

Refers to the holding of assets or wealth by individuals or entities.

Incentive-based Regulations

Regulatory approaches that aim to encourage desired behaviors through incentives, contrasting with command-and-control policies.

Command-and-control Regulations

These are specific regulatory standards set by the government that dictate the limits for emissions, discharges, or other environmental controls that businesses must legally follow.

Democracy

A form of government in which power is vested in the people and exercised by them directly or through freely elected representatives.