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Aleks [24]
2 years ago
7

On may 31, 2022, hughes construction recorded $50,000 in bonds payable, $30,000 in notes payable, $9,000 in wages payable, $3,00

0 in accounts payable, and $1,450 in taxes payable. How are all of these accounts similar?.
Business
1 answer:
Andrej [43]2 years ago
7 0

All of them represent liabilities that must be paid back at some specified point in the future.

<h3>What are liabilities?</h3>

Liabilities are financial obligation of a company that results in the company's future sacrifices of economic benefits to other entities.

There are various reason why a company would incur liabilities:

  • Human error.
  • Environmental damage.
  • Defective product/work.
  • Natural hazards.

Hence, all of the above represent liabilities that must be paid back at some specified point in the future.

Learn more about liabilities here: brainly.com/question/2819860

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Therefore we conclude that based on the example given, the new unit cost per product decreases by 20%.

$100-80 = $20

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