Question

Which of the following choices include only acc that appear in the liability section of the balance sheet?

1) salaries payable, notes payable, acc payable
2) acc payable, notes payable, acc receivable
3) notes payable, acc payable, common stock
4) acc payable, salary expense, notes payable

Answer 1

The correct answer includes only accounts payable, salaries payable, and notes payable, as these are all liabilities found in the liability section of the balance sheet.

Step-by-step explanation:

The question asks which of the following choices include only accounts that appear in the liability section of the balance sheet. The correct answer is salaries payable, notes payable, and accounts payable. These are all liabilities that a company owes and are typically found in the liability section of the balance sheet. Accounts receivable is an asset and common stock is equity, neither of which would be listed in the liabilities section. Likewise, salary expense is an income statement item, not a balance sheet item.