All of the following are examples of legal liabilities except
A)notes payable
B)sales tax payable
C)sick pay payable (may be taken as time off)
D)property taxes payable

Question

Quizplus · Accepted Answer

Sick pay payable is not a legal liability as it is an expense incurred by the company for employee benefits and is not a legal obligation. Notes payable, sales tax payable, and property taxes payable are legal liabilities as they are obligations that the company has to pay to creditors or to the government.

All of the Following Are Examples of Legal Liabilities Except