Accounts payable is a
A)Long-term Liability.
B)Current Liability.
C)Long-term Asset.
D)Current Asset.

Name: Accounts payable is a A)Long-term Liability. B)Current Liability. C)Long-term Asset. D)Current Asset.
Brand: Quizplus
Rating: 4.9 (37 reviews)

Question

Quizplus · Accepted Answer

Accounts payable represents the amount owed by a company to its creditors for goods or services that have been received but not yet paid for. It is considered a current liability because it is expected to be paid within one year.

Accounts Payable Is a