The Ending Balance in Accounts Payable for March Is

question 29

Multiple Choice

The ending balance in accounts payable for March is

• A) $30,120
• B) $65,832
• C) $18,072
• D) $21,168

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Definitions:

Revenues

The total income generated from normal business operations, often from the sale of goods and services.

Expenses

Expenses that a company incurs while generating income.

Real Account

a permanent account in the general ledger that tracks the value of a company's property, plant, equipment, and other non-current assets over time.

Permanent Account

A permanent account is an account that is not closed at the end of the accounting period and carries its balance over into the next period, such as assets, liabilities, and equity accounts.