Which of the Following Most Likely Is an Example of an Accrued

question 62

Multiple Choice

Which of the following most likely is an example of an accrued liability?

• A)Interest payable
• B)Accounts payable
• C)Current portion of long-term debt
• D)Sales tax payable

Understand the relationship between organizational performance and executive compensation.

Identify the various methods and purposes of job evaluation and compensation strategies.

Recognize the concept of external and internal equity in compensation.

Comprehend the role and structure of nonmandated and mandated benefits in employee compensation.

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Definitions:

ATC

Average Total Cost, which is the total cost per unit of output produced, calculated by adding all production costs and dividing by the number of units produced.

Marginal Output

The increase in output resulting from a one-unit increase in the level of input, while holding other inputs constant.

Variable Cost

Expenses that change in proportion to the activity or production level of a business; for example, costs for raw materials that increase as more goods are produced.

Rent

A payment made periodically by a tenant to a landlord in exchange for the use of land, a building, or another property.