Which of the Following Accounts Is Not Included in the Liability

question 197

Multiple Choice

Which of the following accounts is not included in the liability section of the balance sheet?

• A)Accounts receivable.
• B)Wages payable.
• C)Accounts payable.
• D)Notes payable.
• E)Taxes payable.

---

Definitions:

Wage Costs

The total expenditure incurred by employers to compensate their employees, including salaries, benefits, and taxes.

Late Nineteenth Century

The Late Nineteenth Century refers to the period from 1870 to 1900, marked by significant industrial, social, and political changes globally, including the second Industrial Revolution and increased imperial expansion.

Scottish Immigrant

An individual who has relocated from Scotland to another country, often contributing to cultural, economic, and societal aspects of their new community.

Andrew Carnegie

An industrialist and philanthropist who led the enormous expansion of the American steel industry in the late 19th century and is often considered one of the richest people in history.