Notes Payable,accounts Payable,taxes Payable and Salaries Payable Are All Examples

question 60

Multiple Choice

Notes payable,accounts payable,taxes payable and salaries payable are all examples of:

• A)liabilities.
• B)revenues.
• C)expenses.
• D)assets.

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Definitions:

Demand

Demand is the desire and ability of consumers to purchase goods or services at a given price within a specific time frame.

Usury Laws

Regulations governing the amount of interest that can be charged on a loan, intended to protect consumers from excessively high rates.

Loanable Funds

Financial assets available for borrowing, which play a crucial role in setting interest rates in economics.

Shortage

A scenario in which the need for a product or service surpasses the available supply within a market.