A Form 1099 with No Withholdings, Where Withholdings Should Exist

question 42

Multiple Choice

A form 1099 with no withholdings, where withholdings should exist, may be a fraud symptom for which liability account?

• A) Accounts payable
• B) Unearned revenues
• C) Contingent liabilities
• D) Accrued liabilities

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Definitions:

Phospholipids

A class of lipids that are a major component of all cell membranes as they can form lipid bilayers.

Lipid Bilayer

A thin polar membrane made of two layers of lipid molecules; fundamental structure of cell membranes.

Soaps

Salts of fatty acids used in cleaning and as surfactants, produced from the reaction of fats with a strong base.

Soaps

Salts of fatty acids, created through the saponification process, used primarily for cleaning.