Ask Question
BusinessBusiness
13 October, 01:59

Amounts owed to suppliers for supplies purchased on account are defined as

+5
Answers (2)
  1. 13 October, 02:15
    0
    Amounts owed to suppliers for supplies purchased on account are defined as "accounts payable". It is an accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. Hope this answers the question. Have a nice day.
  2. 13 October, 02:22
    0
    The term being referred in the item above is called as "Accounts Payable". By the words being used in the term itself, it may be easily determined that this is a liability being owed to the supplier and should be payed in any terms, such as notes, check, or cash.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Amounts owed to suppliers for supplies purchased on account are defined as ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Experts recommend that you revisit your financial goals about how often? a. every 10 to 20 years b. every 2 to 5 years c. every year d. a few times a year
Answers (1)
The Microsoft Windows operating system is a complex product that takes a lot of coordination to pull together. Management used a competitive rank-and-yank personnel policy that discouraged teamwork.
Answers (1)
Of the five primary accounting concepts, which one assumes an indefinite future?
Answers (1)
A fast-food restaurant serves the student community within a university campus. The restaurant newly introduces pocket-friendly combo meals in its menu. The meals become so popular that the rest of the items on the menu are rarely ordered.
Answers (1)
A cost that does not depend on the quantity of output produced is called a. select one: a. marginal cost. b. fixed cost. c. variable cost. d. average cost.
Answers (1)
New Questions in Business
Which loan will typically offer the lowest interest rate?
Answers (1)
1. A firm in a competitive market has the following cost structure: Output Total Costs 0 $10 1 $12 2 $15 3 $19 4 $24 5 $30 6 $37 7 $46 8 $55 9 $65 If the market price is $8, how many units should the firm produce to maximize profit? a. 5 units b.
Answers (1)
Galaxy Products is comparing two different capital structures, an all-equity plan (Plan I) and a levered plan (Plan II). Under Plan I, the company would have 112,000 shares of stock outstanding.
Answers (1)
At the time the transaction occurred, which of the following would result in an increase in net income under the accrual basis of accounting, but would not result in an increase in net income under cash basis accounting?
Answers (1)
You've decided to buy a new computer that costs $1,500. But Best Buy will let you take the computer home without making paying the full price immediately. Rather, Best Buy will let you pay $500 now, and $500 at the end of each of the next two years.
Answers (1)
Home » Business » Amounts owed to suppliers for supplies purchased on account are defined as
Sign Up Forgot Password?