Accounts Payable Is Considered a [Blank]

question 116

Multiple Choice

Accounts payable is considered a [blank].

• A)spontaneous liability
• B)temporary financing source
• C)permanent financing source
• D)both A and B

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Definitions:

Auto Property Taxes

Taxes levied on vehicles by local governments, calculated based on the value of the vehicle.

Cost Recovery Deduction

A method for businesses to deduct the costs of certain properties over time, often used for depreciation and amortization of assets.

Expense Deduction

Tax deductions that allow individuals or businesses to subtract certain expenses from their taxable income, thereby reducing their tax liability.

Cost Recovery Deduction

Tax deductions allowed for the depreciation or amortization of certain property used in a business or for income-producing purposes.