Accounts Payable Appear on Which of the Following Statements

question 261

Multiple Choice

Accounts payable appear on which of the following statements?

• A)Balance sheet.
• B)Income statement.
• C)Statement of retained earnings.
• D)Statement of cash flows.
• E)Transaction statement.

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Definitions:

Maturity

Maturity indicates the date on which the principal or final payment is due to be paid on a loan, bond, or other financial instrument.

Sinking Fund

A fund that accumulates cash to pay off bonds when they are retired.

Interest Revenue

Income earned from lending money or investments in interest-bearing financial instruments.

Contract Rate

The interest rate stated in a contract, such as a loan or lease agreement.