Question

100 POINTS PLEASE HELPWhich of the following is an example of a liability that would appear on a financial statement?

A. Wages payable
B. Equipment
C. Accounts receivable
D. Cash on hand

Answer 1

A

Step-by-step explanation:

The example of a liability that would appear on a financial statement is A. Wages payable.

Liabilities are obligations or debts that a company owes to others, and they are typically listed on the balance sheet of a company's financial statement. Wages payable is an example of a liability because it represents the amount of money a company owes to its employees for work that has been completed but not yet paid for.

Option B, equipment, is an example of a long-term asset that would be listed on a financial statement, as it represents a company's property, plant, and equipment that is expected to be used for more than one year.

Option C, accounts receivable, is an example of an asset that would be listed on a financial statement, as it represents the amount of money owed to a company by its customers for goods or services sold on credit.

Option D, cash on hand, is an example of another asset that would be listed on a financial statement, as it represents the amount of money a company has in its possession at a given point in time.

Answer 2

Answer: A. Wages payable

Liabilities are obligations that a company owes to other parties and are considered an important part of a company's financial position. They represent debts that the company needs to pay in the future, such as loans, taxes, and wages payable. Wages payable is an example of a current liability that would appear on a financial statement, as it represents wages that have been earned by employees but have not yet been paid by the company.

Option B, equipment, is a long-term asset, while option C, accounts receivable, represents money owed to the company by customers and is considered a current asset. Option D, cash on hand, is a current asset that represents the amount of cash that the company has available at a particular point in time.