Which of the Following Liabilities Would Most Likely Be Listed

question 108

Multiple Choice

Which of the following liabilities would most likely be listed last on a statement of financial position?

• A)Bonds payable,due in 20 years.
• B)Accounts payable.
• C)Note payable,due in 3 years.
• D)Income taxes payable.

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level in a given period.

Quantity Supplied

The total amount of a good or service that sellers are willing and able to sell at a given price level, at a specific time.

Bushels Of Wheat

A measure of volume used chiefly in the U.S. to quantify the production or trading of wheat and other grains.

Equilibrium Price

The market price at which the quantity of goods supplied equals the quantity demanded, leading to market stability.