Asked by Tyler Schmitt on May 02, 2024
Verified
Accounts Payable indicates monies owed to us by our clients or customers.
Accounts Payable
Money owed by a company to its suppliers or vendors for goods and services received but not yet paid for.
- Allocate accounts into their suitable categories.
Verified Answer
SG
Satyam GautamMay 09, 2024
Final Answer :
False
Explanation :
Accounts Payable represents money that a company owes to its suppliers or vendors, not money owed to the company by clients or customers.
Learning Objectives
- Allocate accounts into their suitable categories.