Which of the following is a liability?
A) retained profits
B) prepaid advertising
C) accumulated depreciation
D) expenses payable.

Question

Quizplus · Accepted Answer

Expenses payable is a liability as it represents the amount owed by a company to its creditors for goods or services received but not yet paid for. Retained profits, prepaid advertising, and accumulated depreciation are all assets or equity accounts.

Which of the Following Is a Liability