QUESTION 22 The classification and normal balance of the acc

QUESTION 22 The classification and normal balance of the accounts payable account is O an asset with a credit balance O a liability with a credit balance O owner\'s equity with a credit balance O revenue with a credit balance

Solution

The Classification and normal balance of the accounts payable account is a liability with a credit balance.

Explanations: Accounts Payable is a liability which always carry a credit balance.

Note: The correct answer is highlighted and underlined.