Which of the Following Most Likely Is an Example of an Accrued

question 62

Multiple Choice

Which of the following most likely is an example of an accrued liability?

• A)Interest payable
• B)Accounts payable
• C)Current portion of long-term debt
• D)Sales tax payable

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Definitions:

Bartered Goods

Items that are traded or exchanged for other goods or services without the use of money.

Manual Insurance Log

A traditional, paper-based record keeping system for tracking insurance claims and coverage information.

Secondary Insurance

Insurance coverage that pays for medical or other expenses not covered by a person's primary insurance policy.

Clearinghouse

An intermediary entity that facilitates the exchange of financial, medical, or other types of information and transactions between two parties.