An example of a liability is
A) Cash.
B) Prepaid Insurance.
C) Rent Expense.
D) Accounts Payable.
Correct Answer:
Verified
Q24: Bendada deposited $25,000 in a bank account
Q25: Newton Company purchases equipment on account. What
Q26: Accounts Payable is a(n)
A) asset.
B) liability.
C) revenue.
D)
Q27: The amounts that the business entity owes
Q28: Jerry Frost invested equipment in his business
Q30: Prepaid Insurance is a(n)
A) asset.
B) liability.
C) revenue.
D)
Q31: Accounts Receivable is a(n)
A) asset.
B) liability.
C) revenue.
D)
Q32: A one-owner business is called a
A) corporation.
B)
Q33: When a company pays salaries to an
Q34: Which of the following is an example
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