In: Accounting
Liabilities include all of the following except:
Accounts Payable. |
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Prepaid Insurance. |
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Unearned Revenue. |
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Notes Payable. |
The correct option is Prepaid insurance.
Prepaid insurance is a current asset.It is advance payments made and hence is not a part of liabilities.Liabilities are obligations that have to be met by the company in a period of time.