Which of the Following Is NOT Considered to Be a Liability

question 22

Multiple Choice

Which of the following is NOT considered to be a liability?

• A)Note payable
• B)Accounts receivable
• C)Unearned revenues
• D)Accounts payable

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Definitions:

Comparative Income Statement

A financial statement that compares the income statements of two or more periods to identify changes in revenues, expenses, and net income.

Sales Revenue

The total amount of income generated by the sale of goods or services related to a company's primary operations.

Maintenance Costs

Expenses incurred to keep an asset in good condition and/or repair damage during a period.

Paid Admissions

Revenue generated from the sale of tickets or entry fees.