Is accounts payable a liability?
submitted by Polly Esther

ifnorrin

Yeah, accounts payable is a liability. It's what a company owes to other people or companies when they buy things on credit. It shows up as a debt on the financial statements.

Bueford Tannon

Yes, accounts payable is classified as a current liability because it's what a company owes to suppliers or vendors, and it's usually due within a short period.