Asked by haleh Vosgha on May 02, 2024
Verified
Total amounts owed by a practice to suppliers and other service providers for regular business operating expenses
A) accounts payable
B) expenditure
C) invoice
D) PDF
E) fees
F) petty cash
G) accounting
H) bookkeeping
I) operating information
J) managerial accounting information
Accounts Payable
The amount of money a company owes creditors (suppliers, etc.) in return for goods and services they have delivered.
Operating Expenses
The ongoing costs incurred in the day-to-day operations of a business, excluding costs associated with the production of goods or services.
- Acquire knowledge of the terms and definitions applicable to accounting processes, focusing on accounts payable, accounts receivable, and the administration of financial matters in a general office setting.
Verified Answer
AP
Aatman PatelMay 08, 2024
Final Answer :
A
Explanation :
Accounts payable refers to the amounts a business owes to suppliers and other service providers for goods and services received but not yet paid for, which are part of the regular business operating expenses.
Learning Objectives
- Acquire knowledge of the terms and definitions applicable to accounting processes, focusing on accounts payable, accounts receivable, and the administration of financial matters in a general office setting.
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