What type of account is EI Payable?
A) Asset
B) Liability
C) Revenue
D) Expense

Name: What type of account is EI Payable? A) Asset B) Liability C) Revenue D) Expense
Brand: Quizplus
Rating: 4.9 (50 reviews)

Question

Quizplus · Accepted Answer

EI Payable stands for Employment Insurance Payable, which is a liability account that records the amount of employment insurance premiums that an employer owes to the government on behalf of its employees. Therefore, the correct choice is B – Liability.

What Type of Account Is EI Payable