Which of the Following Is an Example of a Liability

question 50

Multiple Choice

Which of the following is an example of a liability account?

• A)Cash
• B)Payroll Taxes Expense
• C)Salaries and Wages Expense
• D)FUTA Payable

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Definitions:

Bourgeoisie

Historically, the social class that emerged in the Middle Ages, primarily composed of town merchants, artisans, and professionals, often associated with wealth and materialistic values.

Traditional Classes

The societal categories into which people are divided in a hierarchical order, often based on their occupation, birth, or wealth, traditional in many societies.

Third Estate

The common people of France prior to the French Revolution, as opposed to the clergy (First Estate) and the nobility (Second Estate).

Natural Resources

Natural resources are raw materials and components found in nature, such as minerals, forests, water, and fertile land, that can be utilized for economic gain and societal development.