Accounts payable is a(n)
A) current liability.
B) long-term liability.
C) current asset.
D) operating expense.

Question

Quizplus · Accepted Answer

Accounts payable is a current liability because it represents an amount owed by a company to its suppliers or vendors for goods or services that have been received but not yet paid for. It is expected to be paid within a year and is hence classified as a current liability on the balance sheet.

Accounts Payable Is A(n)