Which of the following accounting functions allows a business to keep track of what it owes,make timely payments in order to capture prompt pay discounts,and maintain a good credit rating?
A)Credit card sales
B)Accounts receivable records
C)Accounts payable records
D)Payroll records

Question

Quizplus · Accepted Answer

Accounts payable records allow a business to keep track of what it owes to suppliers, vendors, and creditors. By maintaining these records, a business can make timely payments in order to capture prompt pay discounts and maintain a good credit rating. This is important for managing cash flow and maintaining positive relationships with suppliers and creditors.

Which of the Following Accounting Functions Allows a Business to Keep