An accounts payable is an unwritten promise to pay a supplier for assets purchased or services rendered.

Name: An accounts payable is an unwritten promise to pay a supplier for assets purchased or services rendered.
Brand: Quizplus
Rating: 4.8 (37 reviews)

Question

Quizplus · Accepted Answer

An accounts payable is a liability that represents an unwritten promise to pay a supplier for goods or services that have been purchased on credit. It is a form of short-term debt that must be paid within a certain period of time, usually 30-60 days.

An Accounts Payable Is an Unwritten Promise to Pay a Supplier