Which of the Following Is a Liability Account

question 22

Multiple Choice

Which of the following is a liability account?

• A)Accounts Receivable
• B)Cash
• C)Building
• D)Notes Payable

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Definitions:

Preferences

In economics, this refers to the subjective tastes and choices of individuals, based on the assumption that consumers prefer more of a good or service than less.

Budget Equation

A financial formula representing the balance between an individual's or entity's income and expenses, often used in personal finance or economic models.

Market Prices

The current price at which an asset or service can be bought or sold in a competitive marketplace.

Cost Of Pears

This term likely refers to the expense associated with purchasing or producing pears, encompassing factors like labor, materials, and transportation.