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Which of the following statements is not true about liabilities? a. Liabilities are debts owed to outsiders. b. Cash received before a service is performed
Which of the following statements is not true about liabilities?
a. Liabilities are debts owed to outsiders.
b. Cash received before a service is performed creates a liability.
c. Account titles of liabilities often include the term payable.
d. Liabilities include accumulated depreciation.
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