Which of the Following Statements Is NOT True About Liabilities

question 37

Multiple Choice

Which of the following statements is NOT true about liabilities?

• A)Liabilities are debts owed to outsiders.
• B)Account titles of liabilities often include the term "payable."
• C)Cash received before services are performed is considered to be a liability.
• D)Liabilities do not include wages owed to employees of the company.

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Definitions:

Standard Normal Distribution

A probability distribution with a mean of 0 and a standard deviation of 1.

Bottom

In a general context, the term can refer to the lowest part or point of something; however, without a specific context, its definition can vary widely.

Z-scores

An indicator that shows the number of standard deviations a data point is away from the average.