Which of the Following Most Likely Is an Estimated Liability

question 157

Multiple Choice

Which of the following most likely is an estimated liability?

• A)Liability for vacation pay
• B)Payroll liabilities
• C)Unearned revenues
• D)Current portion of long-term debt

---

Definitions:

Utility Function

A mathematical representation of how different combinations of goods or services lead to different levels of happiness or satisfaction for an individual.

Income

Earnings from work or investments, often measured in terms of money received over a period of time.

Utility Function

A mathematical representation of how different quantities of goods or services generate levels of happiness or satisfaction to the consumer.

Consumption

This term implies the act of using up resources or services to satisfy human wants, often measured to assess the economic activity within a country.