Which of the following is a liability?
a. Account payable
b. Account receivable
c. Cash
d. Inventory
e. expense
Answer: a. Account payable
Business
You might also like to view...
An equity security represents a credit relationship with another company or governmental entity
Indicate whether the statement is true or false
Business
Which is TRUE about real estate agents' liability?
A. An agent will always be liable for disobeying a principal's instructions. B. An agent will not be liable for a tort committed at the direction of the principal. C. The principal will never be liable for acts of the agent after termination of the agency. D. An agent can be held liable for a tort committed by the agent during the agency.
Business