Accounting Concepts and Principles: Accounting Basics and Fundamentals

Basic Accounting Principles | Accounting Concepts and Conventions | Accounting for Managers

Accounting Principles | Explained with Examples

Liabilities Quiz 2 Let's see how well you know Liabilities in Accounting. Try to answer these five questions. 1. A business’s Liabilities are listed on its Balance Sheet. True or False? 2. Liabilities are financial obligations owed to a business's shareholders. True or False? 3. Accounts Payable is an example of a Current Liability. True or False? 4. Salaries Payable are usually classified as Non-Current Liabilities. True or False? 5. An Accrued Expense is not an Expense, it's a type of Liabilit