An account payable would be reported within which of the following financial statements?
A) Statement of cash flows.
B) Income statement.
C)Balance sheet.
D)Statement of retained earnings.

Question

Quizplus · Accepted Answer

Accounts payable is a liability and as such, it would be reported in the balance sheet as a current liability. The balance sheet is a financial statement that presents a company’s financial position at a specific point in time.

An Account Payable Would Be Reported Within Which of the Following