Which of the following is NOT a liability?
A) Provision for long service leave
B) Interest payable
C) Share capital
D) Creditors

Question

Quizplus · Accepted Answer

Share capital is not a liability. It represents the amount invested by shareholders and is recorded in the equity section of the balance sheet. Liabilities represent amounts owed to creditors or third parties such as loans, accounts payable, and provisions for long service leave. Interest payable represents the interest owed on loans or other borrowings and is recorded as a liability. Creditors represent the amounts owed to suppliers or vendors and are recorded as a liability.

Which of the Following Is NOT a Liability