Which of the following is NOT a component of accounts payable?

Accounts payable represents a company's obligations to pay off short-term debts to its creditors or suppliers. This typically includes money owed to suppliers for goods and services already received, as well as payments due for services rendered. Additionally, expenses incurred for inventory are also part of accounts payable as they reflect purchases that have not yet been paid.

When considering the options, outstanding loans do not fit into the accounts payable category. This is because loans are generally classified separately as long-term or short-term liabilities rather than accounts payable. Accounts payable specifically pertains to operational debts that arise from purchasing goods and services on credit rather than borrowing through loans. Therefore, identifying outstanding loans as not being a component of accounts payable is accurate, as it distinguishes between operational liabilities and financing liabilities.