Which of the following is not a liability? A) incometax payable. B) accounts payable. C) unearned revenue.

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Which of the following is not a liability?

A) incometax payable.

B) accounts payable.

C) unearned revenue.

D) Professional fees.

A classified balance sheet is used to;

A) separate the components of assets andliabilities.

B) Has revenues and expensesincluded.

C) receive a loan.

D) None of the above.

In the first month of operations, the total of the debit entriesin accounts payable amounted to $2,000 and the total of the creditentries in accounts payable account amounted to $6,000. The accounthas a

A) $4,000credit balance.

B) $6,000credit balance.

C) $4,000debit balance.

D) None ofthe above.

Related Book For answer-question

Financial Accounting

ISBN: 978-0078111020

7th Edition

Authors: LibbyShort

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Posted Date: Dec 13, 2022 10:40 AM

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Which of the following is not a liability? A) incometax payable. B) accounts payable. C) unearned revenue.

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Financial Accounting

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