Social Capital Is the Major Component of What Accountants Call

question 63

Multiple Choice

Social capital is the major component of what accountants call _____,and it can be found on business's balance sheet.

• A) doubtful debt
• B) goodwill
• C) bequest
• D) excise duty

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Definitions:

Liability

The legal responsibility for one's actions or omissions, especially concerning the payment of damages or compliance with the law.

Garage Owner

An individual or entity that owns an establishment where vehicles are serviced, repaired, or housed.

Refund Of Premium Payments

This refers to the process where an insurance company returns a portion of the premium paid by the insured, often due to policy cancellation or adjustments.

Cancelled

Indicating that an event, order, service, or agreement has been terminated or called off.