Accounts Payable, Taxes Payable, and Notes Payable

Multiple Choice

Accounts Payable, Taxes Payable, and Notes Payable:

A) increase on the debit side, decrease on the credit side and are assets.
B) decrease on the debit side, increase on the credit side and are liabilities.
C) increase on the debit side, decrease on the credit side and are expenses.
D) decrease on the debit side, increase on the credit side and are revenues.