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Categories >> Accounting >> Accounting General
 
 


 

 
 Audit interview questions  Audit Interview Questions (422)
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 Taxation interview questions  Taxation Interview Questions (1893)
 Accounting General interview questions  Accounting General Interview Questions (2781)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4351)
Question
What is Account receivable & Account payable ?
 Question Submitted By :: D.kavitha
I also faced this Question!!     Rank Answer Posted By  
 
  Re: What is Account receivable & Account payable ?
Answer
# 1
Account Receivable is the receivable from the parties
against the services & goods provided to them, ,
& similarly the amount payable is amount to be paid to the
Party against the service or goods received from them.
 
Is This Answer Correct ?    85 Yes 4 No
Mack
 
  Re: What is Account receivable & Account payable ?
Answer
# 2
Account Receivable-- receivable means what business has to
receive form outside parties on revenue account. .In other
word amount due from debtors and for bill receivable is
jointy known as receivable.
Account Payable-- payable means what business has to pay to
outside parties. in other words amount due to creditor and
for bill payable is jointly known as payable.
 
Is This Answer Correct ?    36 Yes 4 No
Shyam Singh Rana
 
 
 
  Re: What is Account receivable & Account payable ?
Answer
# 3
account receivable are the amount to be received from the
parties for the goods and services provided on the credit
basis

Account payable are the amount to be paid to the parties
for the goods and services obtained on the credit basis.
 
Is This Answer Correct ?    22 Yes 2 No
Zulekha Bai M
 
  Re: What is Account receivable & Account payable ?
Answer
# 4
Accounts Receivable - Amount receivable from the Customers
towards the products sold or services rendered to them. It's
also called "Sundry Debtors".
Accounts Payable - Amount payable to the vendors who have
supplied the goods/products/materials or who have rendered
services. It's also called 'Sundry Creditors".
 
Is This Answer Correct ?    21 Yes 0 No
H.r. Sreepada Bhagi
 
  Re: What is Account receivable & Account payable ?
Answer
# 5
Accounts receivable is amount due from the debtor for the
goods or services rendered to them by us.

Accounts payable is the amount payable to the creditor for
the goods or services rendered by thm to us.

It appears on Balance sheet,

Accounts payable - credit side
Accounts receivable - Debit side
 
Is This Answer Correct ?    10 Yes 2 No
Nagarajan
 
  Re: What is Account receivable & Account payable ?
Answer
# 6
Account receivable is the amount receivable from sundry
debtors for our services or goods to provided to them.

For Example: We rise the bill to Party for our service but
they will pay after 15 days then we have to accounted as
ACCOUNT RECEIVABLE


Insimilar case Account payable means amount we have to pay
to sundry creditors for their services or goods.

For Example January month of Rent we have to account last
day of January month even we are not paid as Rent Payable
when we make a payment we have to Debit Rent Payable
 
Is This Answer Correct ?    6 Yes 0 No
Anilkumar.m
 
  Re: What is Account receivable & Account payable ?
Answer
# 7
receivable

customer purchase any product from us we ll receive
the amount from the customer
dr the receiver
cr the giver

payable

customer by a product from us on credit, he has to pay
the amount before due date
 
Is This Answer Correct ?    7 Yes 1 No
Shaik.sikander Pasha
 
  Re: What is Account receivable & Account payable ?
Answer
# 8
Accounts receivable is the amount which customer owes to
the company for the credit sales of goods or services.

Accounts Payable is the amount which the company has to pay
to the vendors for the credit purchase of goods or services.

Accounts Receivables - it appears on the assest side of the
balance sheet

Accounts Payable - it appears on the liablity side of the
balannce sheet
 
Is This Answer Correct ?    7 Yes 1 No
Lakshmi Mohan
 
  Re: What is Account receivable & Account payable ?
Answer
# 9
Account receivable is the amount receivable from sundry
debtors for our services or goods to provided to them.

For Example: We rise the bill to Party for our service but
they will pay after 15 days then we have to accounted as
ACCOUNT RECEIVABLE


Insimilar case Account payable means amount we have to pay
to sundry creditors for their services or goods.

For Example January month of Rent we have to account last
day of January month even we are not paid as Rent Payable
when we make a payment we have to Debit Rent Payable
 
Is This Answer Correct ?    2 Yes 0 No
Nagesh
 
  Re: What is Account receivable & Account payable ?
Answer
# 10
account recivable is money we recive from vender for the
servises provided by us
 
Is This Answer Correct ?    4 Yes 0 No
Manal
 

 
 
 
Other Accounting General Interview Questions
 
  Question Asked @ Answers
 
How to create report of t code f-02 in SAP FI?   3
Three goals you wish to achieve in the next 5 years   1
if a company has opened its new branch in delhi ,so while preparing Balance sheet for that company we will be preparing depreciation chart. So i want to know whether depreciation chart should be prepared as per IT Act or Companies Act?   1
sir if we make purchase and sale for the same pary for the same amount what adjusting entry have to be passed to close that entry in tally. while taking bill wise details we can see the dr. cr.and have to cancell that Optimus 2
hi friends... what it is the journal entry to be passed when the loan sanctioned by one bank and same the cheque was deposited in another bank on same day.? thanks & regards   6
Which company is coded in SENSEX ?   1
Sir, I am using Tally ERP 9 licensed. Company year 2012-2013. but dispaly in tally last date of entry 25.9.2021 pls help me sir... anandhi0701@yahoo.com   3
what is accural ledger HSBC 3
What is the difference between financial accounting and management accounting?   1
How can we create compound unit(eg:pkt of 10 nos) in Peachtree accounting software?if u know the answer,plz post it. by Libin kulamuttom   1
instead of clicking backup,i selected restore in tally7.2 and all my data is lost and i also forgot the comapny name,which i wanted to restore?how to recover my data?   1
Your grandfather is 75 years old. He has total saving of Rs. 80000. He expects that he live for another 10 years and will like to spend his saving by them. He placed his saving into a bank account earning 10 per cent annually. He will draw equal amount each year- the first withdrawal occuring one year from now in such a way that his account balance becomes zero at the end of 10 years. How much will be his annual withdrawal?   2
 
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