Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 45 - No. 30)
In a company's accounting records, what does 'Accounts Payable' represent?
Amounts owed to customers.
Amounts owed to suppliers.
Cash on hand.
Inventory on hand.
Explanation
Accounts Payable reflects the amounts a company owes to its suppliers for goods or services purchased on credit.
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