learning objective: identify key elements in each of the financial statements created during the financial…

learning objective: identify key elements in each of the financial statements created during the financial planning process. which items would be considered liabilities in a balance sheet? a.) cash and accounts receivable b.) investments and machinery c.) wages and taxes payable d.) land and inventory

learning objective: identify key elements in each of the financial statements created during the financial planning process. which items would be considered liabilities in a balance sheet? a.) cash and accounts receivable b.) investments and machinery c.) wages and taxes payable d.) land and inventory

Answer

Brief Explanations:

Liabilities are obligations a company owes. Wages Payable is money owed to employees and Taxes Payable is money owed to tax - authorities. Cash, Accounts Receivable, Investments, Machinery, Land and Inventory are assets.

Answer:

c.) Wages and Taxes Payable