All of the following are examples of an accrued liability except?
A)Wages payable
B)Interest payable
C)Warranties payable
D)GST payable

Question

Quizplus · Accepted Answer

Accrued liabilities are expenses that have been incurred but not yet paid, typically involving services or goods received but for which payment is deferred to a future date. GST payable is not an accrued liability because it is a tax collected from customers and held by the company until it is remitted to the government, rather than an expense incurred by the company for goods or services received.

All of the Following Are Examples of an Accrued Liability