Which of the following is an amount for products or services purchased on account?
A)Unearned revenue
B)Accrued expense
C)Accounts payable
D)Estimated warranty payable

Question

Quizplus · Accepted Answer

Accounts payable is an amount owed by a company for products or services it has purchased on credit or account. Unearned revenue is a liability created when a customer pays in advance for goods or services that have not yet been provided. Accrued expense is a liability that represents expenses that have been incurred but not yet paid for. Estimated warranty payable is a liability that represents the estimated cost of honoring warranties for products that have been sold.

Which of the Following Is an Amount for Products or Services