accounts payable cycle
Querist : Anonymous
As per my knowledge a/c payable are just like creditors.It is an account that tells us what the company is owing towards its suppliers
it is current liability
Account Payable is a major part of Accounting cycle that pertains to obligations arising from the promise to pay later on in connection with the purchases and or services rendered, and in more technical sense, the A/P is a measure of time for making cash outflows into cash inflows.
Accounts payable is your creditors & expenses already incurred but yet to be paid.
While Accounts payable cycle defines the average period in terms of days in which any credit expenses gets paid.
Querist : Anonymous
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