All of the Following Would Be Regarded as Financial Instruments

question 22

Multiple Choice

All of the following would be regarded as financial instruments except:

• A) bank overdraft;
• B) notes payable;
• C) cash;
• D) equipment.

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Definitions:

Financial Statements

Comprehensive reports on a company's financial performance, condition, and cash flow, including the balance sheet, income statement, and statement of cash flows.

Federal Taxes

Taxes imposed by the government on income, property, sales, and other activities, used to fund public services and operations.

Employees' Wages

The compensation paid to employees for their labor or services, typically calculated on an hourly or salary basis.

Liability

Financial obligations or debts that a company owes to outside parties.