Question

Which account is not a liability account?

Answer 1

Question

Which account is not a liability account?

There are two major types major types of the account to determine its nature.

They include both debit and credit accounts.

They the features of the balance sheet in accounting .

Debit accounts are the accounts that increases the number of assets and reduces liability  .

On the other hand credit accounts are the accounts which increases liability and reduces assets in a balance sheet.

Accounts which are not liability accounts are the asset accounts which includes Debit accounts which are

Capital accounts

Purchase accounts

Asset accounts

Answer 2

Cash is not a liability account. Account payable, notes payable and accured expenses are all a liability in nature while cash represents assets. Cash is the most liquid asset.