Which of the Following Does Not Represent a Liability

question 155

Multiple Choice

Which of the following does not represent a liability?

• A)An obligation for estimated income taxes payable
• B)Interest that has accrued on a bank loan
• C)An obligation to pay for goods purchased,payable one year after purchase
• D)An obligation for future purchases of goods

---

Definitions:

Five S's

Refers to five Japanese terms beginning with 'S' used to create a workplace conducive to organizational and visual harmony: Seiri (sort), Seiton (set in order), Seiso (shine), Seiketsu (standardize), and Shitsuke (sustain).

Correct a Wrong

The act of making amends or rectifying an error, mistake, or injustice.

Message

A piece of communication or information conveyed from one person or group to another.

Goodwill Message

Communication designed to foster good relationships between the sender and the receiver, often expressing thanks or appreciation.