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  3. 1.2 the three types of business activity on may

1.2 The Three Types of Business Activity On May 31,2022, Hughes Construction recorded...

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Accounting

1.2 The Three Types of Business Activity
On May 31,2022, Hughes Construction recorded $50,000 in bonds payable, $30,000 in notes payable, $9,000 in wages payable, $3,000 in accounts payable, and $1,450 in taxes payable. How are all of these accounts similar?
All of them represent expenses that have been paid in the current accounting period.
All of them represent transactions responsible for the company's net loss for the current accounting period.
All of them represent liabilities that must be paid back at some specified point in the future.
All of them represent revenues that the company will receive at some specified point in the future.

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