Accounts payable, notes payable, and bonds payable are all common ______.Multiple choice question.categories of assetsowners' equity accountscategories of cash flowsliability accounts
Question
Accounts payable, notes payable, and bonds payable are all common ______.Multiple choice question.categories of assetsowners' equity accountscategories of cash flowsliability accounts
Solution
The correct answer is "liability accounts". These are all types of obligations that a company must pay in the future, and are therefore classified as liabilities on the balance sheet.
Similar Questions
Which of the following is NOT a major category included in the balance of payments?Multiple choice question.Capital accountGovernment debt accountCurrent accountOfficial settlement account
Assets, liabilities, and owners' equity are the major accounts listed on ______.Multiple choice question.a profit and loss statementan income statementa balance sheeta statement of cash flows
Asset, liability and owner’s equity accounts are:Group of answer choicespermanent accountstemporary accountsshort-term accountslong-term accounts
Multiple Choice QuestionThe balance sheet item that reflects money owed to a business by credit customers is ______.Multiple choice question.owners' equityaccounts receivableworking capitalaccounts payable
Assets, liabilities, and owners' equity are the major accounts listed on ______.
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.