question 3 (mandatory) (5 points) which of the following statements is not true about liabilities…

question 3 (mandatory) (5 points) which of the following statements is not true about liabilities? liabilities are debts owed to outsiders. account titles of liabilities often include the term “payable.” cash received before a service is performed creates a liability. liabilities do not include wages owed to employees of the company.

question 3 (mandatory) (5 points) which of the following statements is not true about liabilities? liabilities are debts owed to outsiders. account titles of liabilities often include the term “payable.” cash received before a service is performed creates a liability. liabilities do not include wages owed to employees of the company.

Answer

Brief Explanations:

Liabilities are obligations of a company. Wages owed to employees are a type of liability known as accrued wages. Debts to outsiders are liabilities. Payable - terms are common in liability account titles. Cash received before service is a liability called unearned revenue.

Answer:

Liabilities do not include wages owed to employees of the company.