Which of the following is NOT a liability?

Question

Quizplus · Accepted Answer

Unearned revenue (A) and revenue received in advance (B) are liabilities because they involve money that a company has received from customers but has not yet earned through the sale of goods or services. Accrued expenses (D) are also liabilities because they represent expenses that a company has incurred but has not yet paid. Accrued revenue (C) is not a liability because it represents revenue that a company has earned but has not yet received payment for.

Which of the Following Is NOT a Liability