Amounts owed to another for purchase made on credit which come due in less than one year are known as receivables.

Name: Amounts owed to another for purchase made on credit which come due in less than one year are known as receivables.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Amounts owed to another for purchases made on credit that come due in less than one year are known as payables, not receivables. Receivables refer to amounts owed to a company by its customers.

Amounts Owed to Another for Purchase Made on Credit Which