Accounts Payable Appear on Which of the Following Statements

question 73

Multiple Choice

Accounts payable appear on which of the following statements?

• A) Balance sheet.
• B) Income statement.
• C) Statement of changes in equity.
• D) Statement of cash flows.
• E) Transaction statement.

---

Definitions:

Journal Entries

Records of financial transactions in the accounting system, detailing debits and credits to various accounts.

Allowance for Doubtful Accounts

A contra-asset account used to estimate the portion of a company's receivables that may not be collectible.

Accounts Receivable

Outstanding payments from customers to a company for delivered goods or rendered services.

Carrying Amount

The book value of assets and liabilities reported in the financial statements, considering depreciation or amortization.