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Accounts Payable – Meaning, Importance, Example & Days
What Are Accounts Payable?
Company when purchasing goods, it is not always in monetary terms, purchases are also made in credit.
What this means is, that the company receives goods and services immediately from the seller and then receives an invoice from the seller which asks to pay money later to them.
This is the liability for the company and comes under the head ‘CURRENT LIABILITY’ as Accounts Payable.
It is a liability, due to a particular supplier when the purchase of goods and services happens without paying cash immediately.
Let's discuss Accounts Payable – Meaning, Importance, Example & Days
To read, go to link: https://www.elearnmarkets.com/blog/accounts-payable-meaning-importance/
View all episodes
By ElearnmarketsWhat Are Accounts Payable?
Company when purchasing goods, it is not always in monetary terms, purchases are also made in credit.
What this means is, that the company receives goods and services immediately from the seller and then receives an invoice from the seller which asks to pay money later to them.
This is the liability for the company and comes under the head ‘CURRENT LIABILITY’ as Accounts Payable.
It is a liability, due to a particular supplier when the purchase of goods and services happens without paying cash immediately.
Let's discuss Accounts Payable – Meaning, Importance, Example & Days
To read, go to link: https://www.elearnmarkets.com/blog/accounts-payable-meaning-importance/
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