Accounts payable represent:
A) Amounts which are due to stockholders.
B) Amounts which have been borrowed to finance operations.
C) Amounts which are owed to the company by its customers resulting from credit sales.
D) Amounts which are owed by the company to its suppliers for past purchases.

Question

Accounts payable represent: 
A) Amounts which are due to stockholders.
B) Amounts which have been borrowed to finance operations.
C) Amounts which are owed to the company by its customers resulting from credit sales.
D) Amounts which are owed by the company to its suppliers for past purchases.

Quizplus · Accepted Answer

Accounts payable are amounts owed by the company to its suppliers for past purchases.

Accounts Payable Represent