Which of the Following Is Not a Long-Term Liability Account

question 49

Multiple Choice

Which of the following is not a long-term liability account with a high risk of material misstatement?

• A)Warranty reserves.
• B)Pension obligations.
• C)Other postemployment benefits.
• D)Marketable securities.

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Definitions:

Overbooking

The practice, often used in the travel and hospitality industry, of accepting more reservations than there is available capacity, based on predictions of last-minute cancellations.

Asset Value

The monetary worth of physical or non-physical items owned by an individual or entity, which can be converted into cash or provide economic benefits.

Deadline

A specific time or date by which a task must be completed or a project must be finalized.

Corporate Demand

The total demand for products or services generated by businesses and corporations.