Which of the Following Does Not Represent a Liability

question 155

Multiple Choice

Which of the following does not represent a liability?

• A)An obligation for estimated income taxes payable
• B)Interest that has accrued on a bank loan
• C)An obligation to pay for goods purchased,payable one year after purchase
• D)An obligation for future purchases of goods

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Definitions:

Public Works

Projects and infrastructures created by the government for public use and benefit, including roads, bridges, schools, and parks.

Margaret Bourke-White

A pioneering American photographer known for her photojournalism work, documenting important 20th-century events and figures.

Lobster Trap

A device used for catching lobsters, typically made from wire and netting, allowing lobsters to enter but not exit.

Calder's Mobile

Kinetic sculptures made by Alexander Calder, designed to move with air currents, blending art with engineering.