Question 29 (1 point) Accounts payable is an asset account. True False

Name: Question 29 (1 Point) Accounts Payable Is an Asset Account. True False
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Question

Question 29 (1 point) Accounts payable is an asset account. True False

Answer 1

False. Accounts payable is a *liability* account, not an asset. It represents amounts owed to others for goods or services received but not yet paid for.

Question

Question 29 (1 point) Accounts payable is an asset account. True False

Solution

Answer