Amounts owed to suppliers for products or services purchased on open accounts are called:
A)notes payable.
B)unearned revenues.
C)accounts payable.
D)accrued expenses.

Question

Quizplus · Accepted Answer

Accounts payable are amounts owed to suppliers for products or services purchased on open accounts, representing short-term liabilities that a company has to pay off within a given period.

Amounts Owed to Suppliers for Products or Services Purchased on Open