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Question 11 Which of the following statements is NOT true regarding liabilities: A. A liability is a probable future payment of assets or services. B.

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Question 11 Which of the following statements is NOT true regarding liabilities: A. A liability is a probable future payment of assets or services. B. Potential future wages to be paid to employees should be recorded as liabilities. C. Information about liabilities is more useful when the balance sheet identifies them as either short or long term. hp

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