Why term is used vendor instead of
This query is : Resolved
24 October 2024
why term is used vendor instead of Trade payable or Creditots in corporate.
24 October 2024
Each word has specific meaning...
Trade payables arise when a company buys goods or services from suppliers without paying cash immediately. Instead, the company agrees to pay for these goods or services at a later date.
A creditor is who lends money or extends credit to another party, known as the debtor or borrower, with the expectation of being repaid, usually with interest.
A vendor is an individual or organization that sells goods, services, or both, be on cash or credit.
Trade payables arise when a company buys goods or services from suppliers without paying cash immediately. Instead, the company agrees to pay for these goods or services at a later date.
A creditor is who lends money or extends credit to another party, known as the debtor or borrower, with the expectation of being repaid, usually with interest.
A vendor is an individual or organization that sells goods, services, or both, be on cash or credit.
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