Question

Which account is not a liability account ?
1:- accounts payable
2:- accrued expenses
3:- cash
4:- notes payable

Answer 1

Account payable is the answer

Answer 2

Answer:

Cash is not counted in a liability account.

Option C

Explanation:

A liability account is a term related to accountancy. It specifies the company’s record in the form of debt account, deposits by customers, taxes and other forms of credit and debit account.

It is particularly a record of the transaction. It is the way to maintain a record of the payments that are liable for the company’s account. Cash is not counted in this account as it not payable. The account payable contains all the obligations laid by the company rather than the cash.