The data collected during the accounts payable process can be converted into several accounts payable reports. Below is a list of some of those reports. Which report summarizes outstanding accounts payable by vendor and separates them into buckets based on the number of days outstanding?
A) Cash disbursements journal
B) Purchases by vendor
C) Accounts payable
D) Vendor aging report

Question

Quizplus · Accepted Answer

The Vendor Aging Report summarizes outstanding accounts payable by vendor and categorizes them into different time frames based on the number of days the invoices have been outstanding. This helps businesses manage their payables more efficiently by identifying overdue payments.

The Data Collected During the Accounts Payable Process Can Be