What is Accounts Recivable & Payble???
Answers were Sorted based on User's Feedback
Answer / a sravan
RECIVABLES MEANS ,IT IS CURRENT ASSERTS OR OUTSTANDING
INCOME.
PAYABLES MEANS ,IT CURRENT LIABLETY OR OUTSTANDING PAYMENT.
Is This Answer Correct ? | 17 Yes | 2 No |
Money owed by customers (individuals or corporations) to
another entity in exchange for goods or services that have
been delivered or used, but not yet paid for. Receivables
usually come in the form of operating lines of credit and
are usually due within a relatively short time period,
ranging from a few days to a year.
On a public company's balance sheet, accounts receivable
is often recorded as an asset because this represents a
legal obligation for the customer to remit cash for its
short-term debts
An accounting entry that represents an entity's obligation
to pay off a short-term debt to its creditors. The accounts
payable entry is found on a balance sheet under the heading
current liabilities.
Accounts payable are often referred to as "payables".
Another common usage of AP refers to a business department
or division that is responsible for making payments owed by
the company to suppliers and other creditors.
Is This Answer Correct ? | 3 Yes | 0 No |
How to make privision in SAP. (Please revert on the possibility of making this happen at PO Stage)
how to know i reconcilation statement in tall 9 and in reconcilation chq. details also.
WHAT IS MONTH END CLOSING? AND WHAT YOU DO IN MONTH END CLOSSING PROCESS?
hove many % vat in calcym hydroxyd?
what is the journal entry for : cheque received from Mr A and sent for collection.
What is the fictitious assets?
Provisioned for electricity for the previous month's bill Rs. 8000 (pass journal entry)
I have 4 four category of emplies say Admn/Markting/Procurment/Production and the employees of thee category have there bank accounts in 5 or six different banks. How can i generate Payroll advice for the employees having account in A Or B OR C Or D falling under above category
What is contra entry?
which type of questions did HR Manager ask and what are the answers
what is journal entry in the transferee company book in the case of amalgation
what is the relationship between bookkeeping and accounting?