Which of the following is usually not an accrued liability?

A) Interest payable
B) Wages payable
C) Taxes payable
D) Notes payable

Question

Which of the following is usually not an accrued liability?A)  Interest payableB)  Wages payableC)  Taxes payableD)  Notes payable

JOHANNEANDREI ERFELO · Accepted Answer

Final Answer : D, Explanation :  Notes payable is not usually an accrued liability. It is a liability that arises from a written agreement to borrow or purchase goods and services on credit with a stated interest rate and repayment terms. Accrued liabilities, on the other hand, are expenses that have been incurred but not yet paid, such as interest payable, wages payable, and taxes payable.

Which of the following is usually not an accrued liability?

A) Interest payable
B) Wages payable
C) Taxes payable
D) Notes payable

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Learning Objectives

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