Accounts Payables Process

Why does a company/business require an Accounts payables process?

Questions by Kartik_21011

Showing Answers 1 - 1 of 1 Answers

Baltoo

  • Oct 7th, 2009
 

Accounts Payables is nothing but a Liability which has to be paid by the company for the goods that they have purchased or services that they have availed from a Vendor. The Firm is Accountable or responsible to pay for the goods purchased or services that they have availed.

It is shown on the Liability side of the Balance sheet. Balance sheet is for evaluating the Financial position of the Business and whatever is yet to be paid or outstanding is shown on the Liability side of the Balance sheet.

Give your answer:

If you think the above answer is not correct, Please select a reason and add your answer below.

 

Related Answered Questions

 

Related Open Questions