Identify the account below that is classified as a liability account:
A)Cash
B)Accounts Payable
C)Salaries Expense
D)Common Stock
E)Equipment

Name: Identify the account below that is classified as a liability account: A)Cash B)Accounts Payable C)Salaries Expense D)Common Stock E)Equipment
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Question

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Accounts Payable is a liability account as it represents the amount owed by the company to its creditors or suppliers for goods or services received but not yet paid for.

Identify the Account Below That Is Classified as a Liability