Which of These Is Not a Liability

question 37

Multiple Choice

Which of these is not a liability?

• A) Wages payable
• B) Bank overdraft
• C) Accounts payable
• D) Rent paid

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Definitions:

Rational Producers

Producers who aim to maximize their profits or benefits by making decisions based on logical analysis and available information.

Input Prices

The costs associated with the purchase of the raw materials, labor, and other inputs required in the production of goods or services.

Short- And Long-Run

Terms used in economics to differentiate between time periods: short-run where at least one input is fixed and long-run where all inputs are variable.

Classroom Experiment

An educational exercise or activity conducted in a classroom setting to demonstrate a principle or theory through practical experience.