The purchase of a good or service that has not yet been paid for is recorded as ________ in the balance sheet
A) accrued expense
B) owners' equity
C) supplier's equity
D) accounts payable
E) deferred expense
Answer: D
Explanation: Accounts payable includes the money the company owes its suppliers as well as money it owes vendors for miscellaneous services (such as electricity and telephone charges).
Business
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What will be an ideal response?
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