Accounts receivable,notes receivable,prepaid expenses,and inventory are all types of liabilities.

Name: Accounts receivable,notes receivable,prepaid expenses,and inventory are all types of liabilities.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

These are actually types of assets, not liabilities. Accounts receivable and notes receivable are amounts owed to the company by customers or other parties, prepaid expenses are expenses paid in advance but not yet incurred, and inventory is the goods and materials held for sale or production.

Accounts Receivable,notes Receivable,prepaid Expenses,and Inventory Are All Types of Liabilities