Which of the following accounts is a liability?

A) Accounts Payable
B) Accounts Receivable
C) Wages Expense
D) Service Revenue

Question

Which of the following accounts is a liability?A) Accounts PayableB) Accounts ReceivableC) Wages ExpenseD) Service Revenue

Andrea Sparkes-Henry · Accepted Answer

Final Answer : A, Explanation :  Accounts Payable is a liability account because it represents money that is owed to suppliers or vendors for goods or services that have been received but not yet paid for. Accounts Receivable, Wages Expense, and Service Revenue are all examples of different types of accounts, but do not represent liabilities.

Which of the following accounts is a liability?

A) Accounts Payable
B) Accounts Receivable
C) Wages Expense
D) Service Revenue

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Learning Objectives

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