Which of the Following Statements Is Not True About Liabilities

question 46

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) Receiving cash before a service is performed creates a liability.
• D) Liabilities do not include wages owed to employees of the company.

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Definitions:

Agreeableness

A personality trait characterized by compassion, cooperation, and a desire to maintain positive social relations.

Extraversion

A characteristic that shows itself as being extroverted, energetic, and friendly.

Interpersonal Interaction

The process of exchanging information, feelings, and meaning through verbal and non-verbal messages in face-to-face settings.

Big Five

A psychological theory identifying five major dimensions of human personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.