Which of the following liability accounts is usually NOT an accrued liability:
A)Interest Payable.
B)Wages Payable.
C)Taxes Payable.
D)Notes Payable.

Question

Quizplus · Accepted Answer

Notes Payable is typically a formal written agreement to pay a specific amount of money at a future date, rather than an accrued liability which is usually an obligation recognized before payment is due.

Which of the Following Liability Accounts Is Usually NOT an Accrued