Liabilities

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ACC 210 NC State
MDcollege
Flashcards by MDcollege, updated more than 1 year ago
MDcollege
Created by MDcollege about 10 years ago
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Question Answer
Accounts Payable Currency owed by a business organization to others for products or services received.
Accrued Liabilities Currency owed by a business organization to others for products or services received and not recorded in accounts payable.
Unearned or Deferred Revenue Products or services owed by a business organization to others for currency received.
Notes Payable Currency owed by a business organization to others for currency, products or services received that is acknowledged with a signed written contract.
taxes payable Currency owed by a business organization to a government agency for taxes.
Salaries and Wages Payable Currency owed by a business entity to employees for the services they performed.
Interest Payable Currency owed by a business entity to others for borrowed resources.
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