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Categories >> Accounting >> Accounting AllOther
 
 


 

 
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 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4371)
Question
what is the meaning of bills payable and bills receivables?
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
bills payable means, when the firm made credit purchases at
the time creditor write bill on the firm that amount , firm
and creditor both are accept. the is called bills payable.
bills receivable means like wish here firm write the bill
on debtor at that amount pay to this will pay in future
this is called bills receivables.
 
Is This Answer Correct ?    223 Yes 56 No
Venky
 
Answer
# 2
Bills payable is liability document of company which shows
its liability towards creditor from it whom company has
purchase some thing and bills receivable is asset document
which shows our debtors liability to us i.e how much amount
we have to rececieve from that person,
 
Is This Answer Correct ?    90 Yes 20 No
Nilesh
 
 
 
Answer
# 3
Bills Payable:the outstanding unpaid notes or acceptances
made and issued by an individual or firm.

Bills receivable: the unpaid promissory notes or
acceptances held by an individual or firm.
 
Is This Answer Correct ?    99 Yes 38 No
Sheela
 
Answer
# 4
bills payable means the amount which is paid by the
organisation to the vendor for their credit purchases.
bills receivable the amoung which is collected by the
organisation from the customer for their credit sale
 
Is This Answer Correct ?    74 Yes 36 No
Priyadharshini.b
 
Answer
# 5
When the amount is received from the debtors for their
credit sale is called as Bills receivables.


When the amount is paid to the creditor for their credit
purchase is called as Bills payable.
 
Is This Answer Correct ?    49 Yes 18 No
Asit Kumar Padhiary
 
Answer
# 6
Bills payable means the amount which is paid by the
organisation to the vendor for their credit purchases is
known as bills payable.


Bills receivables means the amount which is collected by
the organisation from the customer for their credit sale is
known as receivables.
 
Is This Answer Correct ?    51 Yes 28 No
Mallu S.k
 
Answer
# 7
bills payable is an obligation of a firm/organization to
make good at a later date.i.e amount owing by an
organization to outsiders which should be settled in a
future date.

bills receivable is an amount due to an organization owing
by outsiders which should be made good in a future date.
 
Is This Answer Correct ?    35 Yes 14 No
Peter Abubakari
 
Answer
# 8
from org. point of view

bill payable is a liability of company toward creditor from
whom it has purchase something.

bill receivable is an asset of company. it shows our debtor
liability to us.

bill payable is just like creditor and bill receivable is
like debtor.
 
Is This Answer Correct ?    26 Yes 7 No
Anjali
 
Answer
# 9
Bills payable is liability document of company which shows
its liability towards creditor from it whom company has
purchase some thing and bills receivable is asset document
which shows our debtors liability to us i.e how much amount
we have to rececieve from that person
 
Is This Answer Correct ?    26 Yes 9 No
Paras
 
Answer
# 10
bills receivables is nothing but the amount receivable from
the customers for which the negotiable instrument in the
form of bill of exchange is received from the customer.

bills payable is nothing but the payable to the suppliers
for which the negotiable instrument in the form of bill of
exchange is given to the suppliers.
 
Is This Answer Correct ?    26 Yes 11 No
Amit Laddha
 

 
 
 
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