Which of the following would likely be considered a long-term liability . Want to see this answer and more? Which of the following accounts could be categorized as either a current or noncurrent liability depending on date the debt is due?1. E) It is credited when bad debts expense is estimated and recorded. Deferred taxes and mortgages due in 30 years. C) Depreciation Expense . B) creditor. C) Rent . Service Revenue c. Unearned Revenue d. Prepaid Rent Expense B. 83.Which of the following liability accounts is likely to be satisfied without a future cash payment? Question Title * Please choose an appropriate title for the question to answer it even easier . Accrued liability balances are less material than accounts payable balances. a. mortgage payable b. accounts payable c. taxes payable d. wages payable innersource|Points 7713| User: In double-entry accounting, where should you record money that is leaving your company to pay bills?A. A) accrued wages. Commercial paper was $9.9 billion for the period. A. Liability is an obligation, that is legal to pay like debt or the money to pay for the services or the goods utilized. Hence, a credit balance in Accounts Payable indicates the … (a) S Type (b) PC (c) LLP (d) None. 4. question now and for free without signing up. It can be defined as the obligation of the company which is to be paid in the future period. D. Sales tax payable. C. Accrued interest payable. In general, a liability is an obligation between one party and another not yet completed or paid for. D. Accrued liabilities at year-end will become accounts payable during the following year. Trivia quiz which has been attempted 2185 times by avid quiz takers. Of the following, which typically would not be classified as a current liability? Some of the examples of Liabilities are Accounts payable, Expenses payable, Salaries Payable, Interest payable. Try this amazing Accounts Questions Test Quiz! 57 have arrived to our website from a total 600 that searched for it, by searching Which Of The Following Accounts Is A Liability?. Also explore over 263 similar quizzes in this category. B. Unearned subscriptions revenue. D. A six-month bank loan to be paid with … 2. B) It is a liability account. Which of the following items is not a current liability? C) prepayment. Using a 365-day year, the maturity value of a 180-day note for $2,700 at 9% annual interest is (rounded to the nearest cent) A. A. accounts payable B. notes payable and current maturities of long-term debt C. accrued liabilities D. both (a) and (c) Answer: D a. accounts payable b. note payable, due in 3 years c. salaries payable d. current portion of long term debt Which of the following accounts would not be included under the property plant and … Accounts Receivable. b. Question Which of the following is not a liability? Liabilities: Liabilities are listed on the balance sheet and represent the obligations of a company as of the balance sheet date. The opposite word of the liability is … C) It is used instead of reducing accounts receivable directly. (a) A sole trader is liable to pay income tax on his/her earnings ... Types of Accounts MCQs. E) rent arrears They do not include interest and are established with an invoice outlining purchase details, credit terms, and shipping charges. Solution for Which of the following accounts is a liability? Deferred taxes and mortgages due in 30 years. A. Accounts payable is the opposite of accounts receivable, which is the money owed to a company. Which of the following is/are true about the sole trader form of business? Accounts payable was $29.1 billion and is short-term debt owed by Apple to its suppliers. Contingent liability? a likely be considered a contingent liability? which of the following accounts is a liability? be as! 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