________ are liabilities for services received for which payment has yet to be made.
A) Notes payable
B) Accruals
C) Accounts payable
D) Accounts receivable

Question

Quizplus · Accepted Answer

Accruals are liabilities for services received for which payment has yet to be made. Notes payable are liabilities that arise from borrowing money, accounts payable are liabilities for goods or services purchased on credit, and accounts receivable are assets for money owed to a company for goods or services provided.

________ Are Liabilities for Services Received for Which Payment Has