Under Which of the Following Categories Would Accounts Payable Appear

question 94

Multiple Choice

Under which of the following categories would Accounts Payable appear?

• A) Long-term assets
• B) Current assets
• C) Long-term liabilities
• D) Current liabilities

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Definitions:

Accountability

The obligation of an individual or organization to account for its activities, accept responsibility for them, and disclose the results in a transparent manner.

Regulatory Compliance

Adhering to laws, regulations, guidelines, and specifications relevant to business operations or activities.

Zero-Based

A budgeting method where all expenses must be justified for each new period, starting from a "zero base," without reference to previous budgets.

Incremental

Pertaining to an increase or addition, especially in a series of small, regular steps.