Which of the Following Descriptions Would Not Fit the Definition

question 98

Multiple Choice

Which of the following descriptions would not fit the definition of a liability?

• A) Obligation to deliver services already paid for
• B) Result of past transaction
• C) Future obligation for future salary payments
• D) Present obligation for future payment

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Definitions:

Modular Design

An approach to design that divides a system into smaller parts or modules, each of which can be independently created and then used in different systems or assemblies.

Finished Goods

Products that have completed the manufacturing process and are ready for sale.

Network Diagram

A graphical representation of a project's tasks and the relationships between them, often used to plan and manage complex projects.

Vision Systems

Systems that use video cameras and computer technology in inspection roles.