Which of the Following Would Not Be Defined as a Liability

question 38

Multiple Choice

Which of the following would not be defined as a liability under the Conceptual Framework?

• A) Salaries owing to managers.
• B) A loan from a financial institution.
• C) Money owing to a supplier for goods purchased.
• D) An arrangement to pay a quarterly bonus commission to salespersons for achieving sales over a certain level.

---

Definitions:

Poverty

A state or condition in which an individual or community lacks the financial resources and essentials for a minimum standard of living.

Federal Government

The national government of a federal state, which holds the authority to govern matters that affect the entire country, separate from state or local governments.

American People

The populace of the United States, consisting of individuals from diverse ethnic, cultural, and religious backgrounds.

Mexican Immigration

The movement of people from Mexico to other countries, particularly the United States, for various reasons including work and family reunification.