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

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Definitions:

Competitive Advantage

The attributes or conditions that allow an organization to perform better than its competitors.

Drug Interdiction

Measures aimed at stopping the illegal trafficking of drugs.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a given period.

Prices

The price tag anticipated, mandatory, or surrendered in settlement for an item.