All of the following accounts are liabilities EXCEPT:
A.
Wages payable
B.
Accrued time off
C.
Employer-paid benefits
D.
Employee Medicare withheld
The Answer Is:
C
This question includes an explanation.
Explanation:
Employer-paid benefits are recorded as expenses , not liabilities. The others (wages payable, accrued time, and taxes withheld) are obligations the employer owes.
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