what is accounts payable ..what is accounts receivable

Answer Posted / thejaswini

To pay of a short term debt to its creditors it is called accounts payable & Money owed by the customer (individuals or corporations) to another entity in exchange for goods or services that have been delivered or used but not yet paid for is accounts receivables

Is This Answer Correct ?    4 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

is it related to b.com syllabus or puc syllabus

1916


When Iam entering sales in Tally ERP 9, It Is not reflecting in the stock, Why itt is happends like this ? I entered sales with delivery note Number, So think that is because it is not reflecting in Stocks, and when iam checking in the stocks its saying negative stock

1211


How is scrap value calculated?

652


What is aggregate Liabilities ?

1778


How many types of business transactions are there in accounting?

675






Mr. A purchased a machinery costing Rs. 1,00,000 on 1st October, 2005. Transportation and installation charges were incurred amounting Rs. 10,000 and Rs. 4,000 respectively. Dismantling charges of the old machine in place of which new machine was purchased amounted Rs. 10,000. Market value of the machine was estimated at Rs. 1,20,000 on 31st March 2006. While finalising the annual accounts, A values the machinery at Rs. 1,20,000 in his books. Which of the following concepts was violated by A? (a) Cost concept (b) Matching concept (c) Realisation concept (d) Periodicity concept.

1601


How can I put Bank Guarantee Receipt entry in Tally ERP9?

3337


In tally when accounts with inventory ,when working in units of measurement under this after creating unit ,if we want to change the unit due to some mistake why does the cursor does not stop in the decimal field? And why the used units do not get deleted in the alter section?

1466


Explain what knowledge should financial accountant have?

652


Explain me some of the examples for liability accounts?

631


what are doucement required under registration of properity firm. give the answer breif

1551


What are the effects of international accounting standards on accounting practices of developing nations?

687


What are the accounting events that are frequently involved in compound entries?

680


Explain the types of ledger?

3589


sir , i am very confussing enrty for cash receipts in t code fbcj. do the effect on wbs element after selected wbs ?

1629