Question

Which of the following is not a liability? A. Notes payable due in 3 years. B....

Which of the following is not a liability?

A. Notes payable due in 3 years.

B. Deferred Revenue.

C. Utilities Payable.

D. Dividends.

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Answer #2

A. Notes payable due in 3 years. - Its a long term liability since its greater than 1 year

B. Deferred Revenue.:- its a liability since it represents unearned portion of revenue

C. Utilities Payable. Since its payable its a liability .Usually its a short term liability that settles in next accounting period

D. Dividends. -- THIS IS NOT LIABILITY dividend itself is not a libility it represents the part of retained earning . Dividend once declared becomes a temporary liability .

answered by: anonymous
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