Which of the liability accounts below is usually NOT an accrued liability:
A)interest payable.
B)wages payable.
C)taxes payable.
D)notes payable.

Question

Quizplus · Accepted Answer

Notes payable is usually not an accrued liability as it is a predetermined and scheduled liability that does not accumulate over time. Interest payable, wages payable, and taxes payable are examples of accrued liabilities as they accumulate over time due to unpaid interest, wages, or taxes.

Which of the Liability Accounts Below Is Usually NOT an Accrued