What is the Difference Between
(A/c Payable / Receivable ) AND ( Bills payable /
Receivable )................?

Answers were Sorted based on User's Feedback



What is the Difference Between (A/c Payable / Receivable ) AND ( Bills payable / Receivable )....

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

What is the Difference Between (A/c Payable / Receivable ) AND ( Bills payable / Receivable )....

Answer / nani

Sree Is Correct
i agree.

Is This Answer Correct ?    6 Yes 2 No

What is the Difference Between (A/c Payable / Receivable ) AND ( Bills payable / Receivable )....

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

Post New Answer

More Accounting General Interview Questions

what do you mean by profit and loss appropriation account ? what is the use of preparing it?

1 Answers   Syntel,


a cc. has balance Rs. 8,40,000 at the credit of profit and loss a/c this balance is used for redemption of debentures what will be the entry

0 Answers  


Mention what does the investment of personal assets by the owner will do?

0 Answers  


what differance Between Capital reserv and reserve capital?

4 Answers   Dharampal Satyapal Limited, Genpact,


WHAT IS B.R.S. ???

7 Answers  






what is window dressing in final accounts?

7 Answers   OPI Global,


Sanjay Ltd invited applications from the public for the issue of 10,000 equity shares of Rs. 10 each at a premium of 20%, payable Rs. 3 on application; Rs. 5 on allotment including premium and the balance in two calls of an equal amount. Applications for 15,000 equity shares were received. The directors allotted 10,000 shares to all the applicants on pro-rata basis adjusting the excess application money towards allotment. All money due on allotment and calls were received. Give journal entries to record the above transactions in the books of the company. Also show the balance sheet.

2 Answers   Ignou,


What is Provision Entry

0 Answers  


"Cheque deposited in to bank" How can i make a entry in tally when like this entry came

1 Answers  


give me some simple examples of personal account, real account, nominal account

2 Answers   TATA,


If drs are deducting amt as TDS , how entry will be passed in books? pls clarify

2 Answers   HLL,


Can you name different branches of accounting?

0 Answers  


Categories