Question

Accounts payable, notes payable, and bonds payable are all common ______. multiple choice question. categories of assets liability accounts owners' equity accounts categories of cash flows

Answer 1

Accounts payable notes payable, and bonds payable are all common categories of asset liability. Option A

This is further explained below.

What is asset-liability?

Generally, Your balance sheet may be broken down into its most basic form, which is comprised of only two sections: assets and liabilities. Your company's assets are the things it possesses that have the potential to offer an economic advantage in the future. Your obligations to other parties are referred to as your liabilities. In a nutshell, assets are what placed money in your wallet, while liabilities are what took money out of your pocket.

In conclusion, A typical kind of asset obligation includes accounts payable, notes payable, and bonds due. Choice A

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