Prepayment is not a liability. Prepayment refers to an amount that has been paid in advance for goods or services that will be received in the future. It is recorded as an asset on the balance sheet, not as a liability. The other options listed are all examples of liabilities. Accrued wages are wages that have been earned by employees but not yet paid, rent arrears are rent payments that are overdue, and insurance due but unpaid refers to insurance premiums that are owed but have not yet been paid.