Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 18 - No. 49)
What is a 'Trade Payable'?
Amount owed to the bank.
Amount owed to suppliers.
Amount owed by customers.
Owner's investment in the business.
Explanation
Trade payables represent the amount of money the business owes to its suppliers for goods or services purchased on credit. This is a liability.
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