How will accounts payable appear on the following financial statements?
A) Expense on the income statement
B) Revenue on the income statement
C) Liability on the balance sheet
D) Asset on the balance sheet

Question

Quizplus · Accepted Answer

Accounts payable reflects a liability that a company owes to its suppliers or creditors for goods or services received but not yet paid for. Therefore, it will appear as a liability on the balance sheet.

How Will Accounts Payable Appear on the Following Financial Statements