25. value: 2.00 points The currentliability for Wages Payable (or Accrued Payrol) represents the O net pay earned by employees for which they have not yet been paid. O employer's federal and state payroll tex obligation. O employer's liability for various withholdings that taken out of the gross pay earned by employees O gross pay earned by employees for which they have not yet been paid. O Type here to search 2.00 points Interest on a Note Payable is most appropriately accrued O as of the end of each accounting period during which the note is a liobility O when principal payments on the note are made O when the note is signed. O when the interest is paid 0 Type here to search 200 points Southern Company's eccountant failed to accrue as of 12/3116 som employee fringe benefk program expenses thar were incurred in 2016 and that will be paid in 2017 The nesult of this omission t O understate 2016 expenses and undersate crrn lbties 12/316 O understate 2016 net income and overstate assets et 12/36 O overstate 2016 net income and undersate noncurrent lablbes at 12/316 O understate 2016 expenses and overstate current liabilities at 12/3116 O Type here to search 5 4 3 2 28. 20 points value: An Accounts Payable normally results from which of the following transactions? O Purchasing accounts for cash. O Purchasing property. plant and equipment on credit. O Purchasing goods and services from suppliers on credr O All of the above. O Type here to search