Accounts payable, Cost Accounting

Accounts Payable or sundry creditors are generally unsecured debts owed through the firm. These are also considered to as payables on open accounts. They may not be evidenced through any formal written acceptance or promise to pay. They signify credit purchase of goods or services for that payment has not been made as on the date of the balance sheet.

Posted Date: 4/4/2013 1:45:06 AM | Location : United States

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