All of the Following Are True of Known Liabilities Except

question 180

Multiple Choice

All of the following are true of known liabilities except:

• A) Include accounts payable, notes payable, and payroll.
• B) Are obligations set by agreements, contracts, or laws.
• C) May depend on some future event occurring.
• D) Are definitely determinable.
• E) Are measurable.

---

Definitions:

Child-Care

Services and support for the care of children, especially those provided during the working day, facilitating parents or guardians to undertake employment or other activities.

Elder-Care

Services and support provided to the elderly population to meet their medical, social, and personal needs, often including healthcare, housing, and daily life assistance.

Pay Compression

Occurs when individuals with substantially different levels of experience, performance abilities, or both are paid wages or salaries that are relatively equal.

Market Rate

The prevailing price range for goods or services in a specific market at a given time.