Accounts payable is a:
A)non-current (long-term)liability.
B)current asset.
C)non-current asset.
D)current liability.

Question

Quizplus · Accepted Answer

Accounts payable is a current liability. This is because accounts payable are debts owed by a company which are due within one year or one operating cycle, whichever is longer. Companies owe money to their suppliers or vendors for goods or services received but not yet paid for, which is classified as accounts payable.

Accounts Payable Is A