Which Account Is a Liability

question 37

Multiple Choice

Which account is a liability?

• A) cash
• B) retained earnings
• C) accounts receivable
• D) accounts payable

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Definitions:

Income

The monetary gain derived from wages, salaries, investments, or other sources over a period of time.

Total Fertility Rate

The average number of children a woman is expected to give birth to during her lifetime, based on current birth rates.

Childbearing Years

The period in an individual's life, typically between puberty and menopause, when they are biologically capable of conceiving and bearing children.

Family Life Cycle

A series of stages through which a family progresses over time, including single adulthood, marriage, parenthood, and retirement.