Which of the following is an example of a commitment?
A) Lease
B) Note payable
C) Revenue received in advance
D) Dividend payable

Name: Which of the following is an example of a commitment? A) Lease B) Note payable C) Revenue received in advance D) Dividend payable
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Question

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A lease is a contractual obligation to pay rent for the use of a property or asset, and is therefore an example of a commitment. The other choices are liabilities, but they do not represent a commitment to a future action.

Which of the Following Is an Example of a Commitment