Accounts Payable would be an example of a(n):
A)contingent liability.
B)estimated liability.
C)known liability.
D)accrued liability.

Name: Accounts Payable would be an example of a(n): A)contingent liability. B)estimated liability. C)known liability. D)accrued liability.
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Question

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Accounts Payable is a known liability because it represents amounts a company owes to suppliers for goods or services received that are due for payment.

Accounts Payable Would Be an Example of A(n)