Asked by
arpitha soppimath
on Nov 15, 2024
Verified
Which of the following accounts is NOT a liability?
A) Accounts Payable
B) Salaries Payable
C) Unearned Rent
D) All of the above answers are liabilities.
Unearned Rent
Income received by an entity for rent that has not yet been earned, typically because the period of tenancy has not yet occurred.
Accounts Payable
Liability accounts listing the amounts a company owes to suppliers for goods or services received on credit.
Salaries Payable
A liability account representing the amount of wages owed to employees for work performed but not yet paid.
- Comprehend the nature and taxonomy of diverse accounts, specifically Assets, Liabilities, Revenue, and Expenses.
Verified Answer
YZ
Learning Objectives
- Comprehend the nature and taxonomy of diverse accounts, specifically Assets, Liabilities, Revenue, and Expenses.