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Which of the following is not considered to be a liability 1 Accounts Payable 2 Accounts Receivable 3 Wages Payable 4 Unearned Revenues?
Wiki User
∙ 10y ago
Accounts receivable is that portion of sales which are made on credit and money is agreed to be received in future that;s why accounts receivable is an asset of company and that's why not treated as a liability of company
Wiki User
∙ 10y ago
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Is accounts payable a liability or an expense?
Accounts Payable is a liability. Accounts receivable is an asset.
Is accounts recievable a current liability?
Accounts receivable is a current asset, never a current liability.
Are Notes receivable are classified as current liabilities?
Notes Receivable are "not" classified as a liability at all, since they are receivable (meaning the company will receive them) they are classified as Long Term Assets. Accounts Receivable (Current Asset) Notes Receivable (Long Term Asset) Accounts "Payable" (Current Liability) Notes "Payable" (Long Term Liability)
Is accounts receivable a liability?
included in the cost of a plant assets
What asset and liability accounts might the AAA use to record its transactions?
Assets = Cash, Accounts Receivable, Supplies, etc. Liability =
Is accounts payable a liability or an expense?
Accounts Payable is a liability. Accounts receivable is an asset.
Is accounts receivable listed on balance sheet under liabilities and equity?
On a balance sheet, "accounts receivable" are considered an asset. . NOT a liability. Think about it . . this is money that is due to the business compared to "accounts payable" which is money due to someone else. . .and thus a liability.
Is accounts recievable a current liability?
Accounts receivable is a current asset, never a current liability.
Is accounts receivable a asset or liability?
Accounts receivable is that amount which is receivable from debtors at future date that's why it is current asset of business.
Are Notes receivable are classified as current liabilities?
Notes Receivable are "not" classified as a liability at all, since they are receivable (meaning the company will receive them) they are classified as Long Term Assets. Accounts Receivable (Current Asset) Notes Receivable (Long Term Asset) Accounts "Payable" (Current Liability) Notes "Payable" (Long Term Liability)
Is accounts receivable a liability?
included in the cost of a plant assets
What asset and liability accounts might the AAA use to record its transactions?
Assets = Cash, Accounts Receivable, Supplies, etc. Liability =
What is the difference for account receivable and accounts payable?
When company make sales in credit it creates the accounts receivable while when company purchases on credit it creates the accounts payable so accounts receivable is current asset while accounts payable is current liability.
Is accounts receivable a permanent account?
Yes it is a real account. Accounts receivable is considered an asset and asset accounts are real or permanent accounts.
Are accounts receivable assets or liabilities?
Asset. It is cash that you are owed. Accounts receivable is considered a short term asset.
Is accounts receivable a current noncurrent liability?
it is current, if the account has not been paid and is past due after 30 days, it goes into collections. There is no such thing as a non-current accounts receivable.
Who of the following accounts would be closed at the end of the accounting period?
Accounts receivable
