Which of the following accounts is not included in the liability section of the balance sheet?
A)Accounts receivable.
B)Wages payable.
C)Accounts payable.
D)Notes payable.
E)Taxes payable.

Question

Quizplus · Accepted Answer

Accounts receivable is an asset account, as it represents money owed to the company from its customers. The other options (B, C, D, and E) are all liability accounts, as they represent money owed by the company to others.

Which of the Following Accounts Is Not Included in the Liability