Which of the following would NOT be included as a liability in a corporate balance sheet?
A)Notes payable
B)Accounts payable
C)Bonds
D)Accumulated depreciation

Question

Quizplus · Accepted Answer

Accumulated depreciation is not a liability; it is a contra-asset account that offsets the value of assets on the balance sheet. The other options (notes payable, accounts payable, and bonds) are all forms of debt and therefore liabilities.

Which of the Following Would NOT Be Included as a Liability