What is the Difference Between
(A/c Payable / Receivable ) AND ( Bills payable /
Receivable )................?
- 3 Answers
- 21955 Views
- GTS, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Accounts Payable - Amounts payable to the
Suppliers/Vendors/Creditors. The accounting group can also
be called as Sundry Creditors. This is Current Liability.
Accounts Receivable - Amounts receivable from the
Customers/Debtors. The accounting group can also be called
as Sundry Debtors. This is Current Asset.
Bills Payable - Bills of Exchange drawn by
Creditors/Suppliers on the company and is a Current Liability.
Bills Receivable - Bills of Exchange drawn by a company on
its Customers/Debtors and is a Current Asset.
| Is This Answer Correct ? | 34 Yes | 6 No |
Answer / bhups
Ac payable / receivable mains bill sending our cilent and
bill receivable meanis bill recivered from our vender
| Is This Answer Correct ? | 8 Yes | 13 No |
c form 1st qtr 2013-2014 issued th.on line start from which date
Explain miscellaneous expenditures & profit and loss account debit balance
As per accounting standards, what is the meaning of "Short Term Liabilities and Long Term Liabilities:? As the Company can change the classification based on their business? Or these meanings are fixed?
We bought some machines from Singapore (capital goods), payment made in rupees. but the invoice value is mentioned as USD. 1. party ledger shows (debit side) amount in rupees. now i need to make purchase entry. 2. shall i want to convert USD to rupees? 3. if i do like that the party ledger will be differ.. 4. somebody pls tell me the way to make purchase entry.
What is the fictitious assets?
what is the relationship between cost accounting financial accounting and managerial accounting?
what is the difference between accounting and finance?
what are the charecteristics of cost accounting financial accounting managment accounting payroll accounting environmental accounting h r accounting forensic accounting inflation accounting?
X is multiplied with 10 or divide with 10 then he will get 100. then x=?. (Praveen MBA)
Can you differentiate accounting and auditing?
When their is one pick point and four unloading places with in same district their is need to write four number of way biils
6, state with reasons wheather the following items are capital expenditure or revenue expenditure i, A factory building was constructed at a cost rs 1500000 a sum of rs 64000 were incurred for the construction of huts for storing building materials ii, rs 5000 paid for removal of stock to a new site iii, expenses incurred in connection with obtaining a license to start the business were rs 15000
Audit 
