Money owned to a company by its customers is referred to as:
A) accounts obtainable
B) accounts payable
C) accounts receivable
D) inventory
E) accounts collectable

Question

Quizplus · Accepted Answer

Accounts receivable refers to the money owed to a company by its customers for goods or services provided on credit, while accounts payable refers to the money a company owes to its suppliers and vendors. Accounts obtainable and accounts collectable are not commonly used accounting terms. Inventory refers to the goods that a company has on hand to sell.

Money Owned to a Company by Its Customers Is Referred