What is the term for the money owed to the business by its customers who have purchased goods and services on credit, as shown on a balance sheet?
A) accounts payable
B) accounts receivable
C) deferred sales
D) deferred liabilities

Question

Quizplus · Accepted Answer

Accounts receivable is the term for the money owed to the business by its customers who have purchased goods and services on credit, as shown on a balance sheet.

What Is the Term for the Money Owed to the Business