Final Answer:
Accrued liabilities are not unavailable; they are indeed recorded as liabilities on a company's balance sheet, representing obligations that have been incurred but not yet paid by the end of an accounting period. Thus the correct option is b) Unavailable.
Step-by-step explanation:
Accrued liabilities refer to the expenses a company has incurred but hasn't yet paid for by the end of an accounting period. They are indeed liabilities; however, the term "unavailable" indicates that these amounts are not immediately payable or settled at the time of financial reporting.
Accrued liabilities represent obligations a company owes and intends to settle in the future. These could include salaries, interest, utilities, or taxes accrued but not yet paid. While they are recorded as liabilities on the balance sheet, they are not "unavailable" in the sense that they can't be paid or settled. Instead, they're awaiting payment, with the timing typically falling beyond the current reporting period.
For instance, a company might accrue $5,000 in salaries at the end of a month. This means employees have worked, but the payment for their work hasn't been made. The $5,000 is recognized as an accrued liability on the balance sheet until it's paid in the subsequent period.
Accrued liabilities are essential for accurate financial reporting, reflecting a company's true financial obligations, even if these amounts are not settled immediately. They represent debts that will become payable at a later date, distinguishing them from unavailable funds that cannot be accessed or utilized. Thus the correct option is b) Unavailable.