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Categories >> Accounting >> Accounting General
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1905)
 Accounting General interview questions  Accounting General Interview Questions (2833)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4369)
Question
What is Account receivable & Account payable ?
 Question Submitted By :: Accounting-General
I also faced this Question!!     Answer Posted By  
 
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 ?    88 Yes 4 No
Mack
 
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 ?    40 Yes 4 No
Shyam Singh Rana
 
 
 
Answer
# 3
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 ?    22 Yes 0 No
H.r. Sreepada Bhagi
 
Answer
# 4
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 ?    23 Yes 2 No
Zulekha Bai M
 
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 ?    12 Yes 2 No
Nagarajan
 
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 ?    7 Yes 0 No
Anilkumar.m
 
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 ?    8 Yes 1 No
Shaik.sikander Pasha
 
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 ?    8 Yes 1 No
Lakshmi Mohan
 
Answer
# 9
account recivable is money we recive from vender for the
servises provided by us
 
Is This Answer Correct ?    6 Yes 0 No
Manal
 
Answer
# 10
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 ?    3 Yes 0 No
Nagesh
 

 
 
 
Other Accounting General Interview Questions
 
  Question Asked @ Answers
 
Option Bank-Of-America 2
I have recieved a payment from hmrc on Friday morning and by the afternoon it was removed from my bank account by contra entry what does this mean? Will I recieve the money? ME 2
journal Bank-Of-America 1
please tell me what is journal entry for salary: Gross Salary 10000 and net salary 75000. Synergy 2
Any income which is earned in the financial year(2009-10) but received in the assessment year(2010-11) wil be taxable or not?   3
what are GAAP items and examples of such?   2
What is difference between budget & budgeting   1
What is the differance between Captial & revanue?   3
discuss depreciation and types of depreciation   2
what is debit note & credit note?   2
WHY DON'T WE TAKE BANK AND CASH ACCOUNTS INTO REALISATION   2
what show in balance sheet after deduct last depreciation of assets   2
 
For more Accounting General Interview Questions Click Here 
 
 
 
 
 


   
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