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difference between Trade payables and Other Current Liabilities

S Aishwarya (22 Points)

18 May 2019

What is the difference between Trade payables and Other Current Liability?

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Pratik Surve (Assistant Professor ) (571 Points)
Replied 18 May 2019

trade payable includes all creditors and bill playable and other C L includes o/s exp

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S Aishwarya (22 Points)
Replied 18 May 2019

thank you

Giridhar S Karandikar (Team Lead) (7543 Points)
Replied 18 May 2019

trade payable means the creditior to whom we owe payment for the goods purchased on credit for carrying on business vwhereas other current liability means those credors to whom we owe money other than goods such as bank loan creditors for stationery etc..

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