Which of the following balance sheet items is not considered a liability? Short-term debt Taxes Payable Prepaid

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Which of the following balance sheet items is not considered a liability?

Short-term debt
Taxes Payable
Prepaid expenses
Advance from customers

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0324312140

16th Edition

Authors: James D. Stice, Earl K. Stice, Fred Skousen

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Posted Date: Oct 23, 2022 06:19 AM

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Which of the following balance sheet items is not considered a liability? Short-term debt Taxes Payable Prepaid

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Expert Answer:

B Taxes Payable Taxes payable are accrued expenses and are placed on their own line on the balance s... View the full answer

Intermediate Accounting

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