Several items from the financial statements of Fireside Tires are listed. Use the following choices to identify the type of account for each item listed. (Choices may be used more than once.)
-Long-term notes payable
A)Assets
B)Liabilities
C)Revenues
D)Expenses
E)Stockholders' Equity

Question

Quizplus · Accepted Answer

Long-term notes payable are a form of liability as they represent a debt owed to a creditor that is due more than a year from the balance sheet date.

Several Items from the Financial Statements of Fireside Tires Are