Which of the Following Liabilities Is Created When a Company

question 16

Multiple Choice

Which of the following liabilities is created when a company receives cash for services to be provided in the future?

• A) Unearned Revenue
• B) Accrued Liability
• C) Accounts Payable
• D) Estimated Warranty Payable

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Definitions:

One-Time Event

An occurrence that happens once without repetition.

Ages 16-24

A demographic group typically associated with late adolescence and early adulthood, characterized by significant physical, psychological, and social changes.

Equity Theory

A theory in social psychology that posits individuals assess the fairness of their relationships by analyzing their input to and output from said relationships relative to others'.

Severe Inequity

Extreme unfairness or imbalance in the way resources, opportunities, or treatments are distributed among individuals or groups.