Which of the following statements is not true about liabilities?
A) Liabilities are debts owed to outsiders.
B) Account titles of liabilities often include the term "payable".
C) Cash received before services are performed are considered to be liabilities.
D) Liabilities do not include wages owed to employees of the company.
Correct Answer:
Verified
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A)
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A) increasing owner's equity.
B)
Q139: Q140: 
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