Which of the following correctly describes how accounts payable will appear on the financial statements? Multiple Choice O O Liability on the balance sheet Asset on the balance sheet Expense on the income statement Revenue on the income statement

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
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ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
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Chapter14: Adjustments And The Work Sheet For A Merchandising Business
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Which of the following correctly describes how accounts payable will appear on the financial statements?
Multiple Choice
O
O
Liability on the balance sheet
Asset on the balance sheet
Expense on the income statement
Revenue on the income statement
Transcribed Image Text:Which of the following correctly describes how accounts payable will appear on the financial statements? Multiple Choice O O Liability on the balance sheet Asset on the balance sheet Expense on the income statement Revenue on the income statement
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