Which of the following is an example of a liability account?
A) Cash
B) Owners' Capital
C) Salaries Payable
D) Wages Expense

Question

Quizplus · Accepted Answer

Salaries Payable is a liability account because it represents an obligation to pay employees for work they have already performed. The other options listed are not liability accounts - Cash is an asset account, Owners' Capital is an equity account, and Wages Expense is an expense account.

Which of the Following Is an Example of a Liability