All of the following are classified as assets except:
A) Accounts Payable.
B) Land.
C) Equipment.
D) Accounts Receivable.
E) Supplies.

Name: All of the following are classified as assets except: A) Accounts Payable. B) Land. C) Equipment. D) Accounts Receivable. E) Supplies.
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Question

Quizplus · Accepted Answer

Accounts Payable is a liability, as it represents money owed by the company to its creditors. The others are assets as they represent resources owned by the company.

All of the Following Are Classified as Assets Except