Final answer:
Accounts Payable is not classified as an asset, as it represents a company's liabilities to creditors or suppliers.
Step-by-step explanation:
An asset is an item of value that a firm or an individual owns. It is listed on a balance sheet, which is an accounting tool that lists a company's assets and liabilities. Examples of assets include cash, accounts receivable, supplies, equipment, and bonds.
In this case, all of the options given - Accounts Receivable, Supplies, Equipment, and Accounts Payable - are classified as assets except for Accounts Payable. Accounts Payable represents the amount owed by a company to its creditors or suppliers for goods or services purchased on credit. It is considered a liability, not an asset.