The valuation basis used to measure accounts payable is:
A)fair value.
B)replacement cost.
C)face value.
D)market value.

Question

Quizplus · Accepted Answer

The valuation basis used to measure accounts payable is face value, which means the amount owed to creditors as recorded in the company's accounting books. This is because accounts payable is a liability that represents the amount owed by a company to its suppliers or vendors for goods or services received on credit. It is not measured based on fair value, replacement cost, or market value.

The Valuation Basis Used to Measure Accounts Payable Is