Wages Payable Is an Example of

question 40

Multiple Choice

Wages Payable is an example of

• A) Unearned Revenues
• B) Expense
• C) Liability
• D) Prepaid Revenue

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Definitions:

Total Profit

The financial gain obtained when total revenue exceeds total expenses from business operations.

Graph

A diagram representing data visually, using lines, bars, or other symbols.

Implicit Cost

Refers to the opportunity costs that are not directly paid for in money but represent the loss of value from using resources for a particular venture instead of their best alternative use.

Explicit Cost

Direct, out-of-pocket payments for goods or services used in the production of a product or offering of a service.