Regarding Liabilities,which of the Following Statements Is Incorrect

question 87

Multiple Choice

Regarding liabilities,which of the following statements is incorrect?

• A) Liabilities represent one of the two claims to assets.
• B) A creditor who has loaned money to a business has a claim to some of the business's assets until the business pays the debt.
• C) Liabilities are economic resources that are expected to benefit the business in the future.
• D) Many, but not all, liabilities have the word payable in their titles.

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Definitions:

Case Study

A research method involving an up-close, in-depth, and detailed examination of a subject of study (the case), as well as its related contextual conditions.

Experimental Study

A research methodology involving the manipulation of variables to determine their effect on a particular outcome or to test a hypothesis.

Masked Design

A research design in which participants do not know which treatment group they are in to prevent bias; also known as a blinded design.

Placebo

An inert or non-therapeutic substance given to a control group in clinical trials to assess the psychological impact of receiving a treatment.