Asked by Iqbal Qayum on May 08, 2024
Verified
If Accounts Payable has been debited, it is most likely that:
A) a payment was made on account.
B) a purchase was made on account.
C) a charge customer made a payment.
D) an expense was paid with cash.
Accounts Payable
Obligations or debts a company owes to its suppliers or vendors for goods or services received that haven't yet been paid for.
- Understand the management of accounts payable and receivable within diverse transactions.
Verified Answer
AV
Allena ValadezMay 13, 2024
Final Answer :
A
Explanation :
When Accounts Payable is debited, it indicates a reduction in the liability, which typically occurs when a payment is made on account, thus settling or reducing the amount owed to a creditor.
Learning Objectives
- Understand the management of accounts payable and receivable within diverse transactions.
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