Which of the following accounts is an example of a liability?

Name: Which of the following accounts is an example of a liability?
Brand: Quizplus
Rating: 4.8 (42 reviews)

Question

Quizplus · Accepted Answer

Notes payable is an example of a liability, as it represents a financial obligation for a business to pay off a loan or debt. Service revenue and building are examples of assets, while accounts receivable is an example of a current asset (i.e. money that is owed to the business).

Which of the Following Accounts Is an Example of a Liability