Which of the Following Would Not Appear as a Liability

question 35

Multiple Choice

Which of the following would not appear as a liability on the balance sheet?

• A) A labor contract
• B) A note due to a bank
• C) Salary due employees at year-end
• D) Accounts payable

Comprehend the role and calculation of gross profit in assessing company profitability.

Differentiate between types of income statements and the placement of revenue and expenses.

Identify the primary sources of revenue for different types of companies.

Recognize the importance of detailed inventory records in both inventory systems.

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Definitions:

Deinstitutionalization

The policy of moving severely mentally ill people out of large state institutions and then closing part or all of those institutions.

Psychiatrists

Medical doctors who specialize in diagnosing, treating, and preventing mental health and emotional disorders, often through medication, psychotherapy, or a combination of treatments.

Jeffrey Dahmer

An American serial killer and sex offender who committed the murder and dismemberment of 17 men and boys between 1978 and 1991.

Theodore Kaczynski

An American domestic terrorist and former mathematics professor known as the Unabomber, who engaged in a nationwide bombing campaign.