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WHAT ARE THE DISTINGUISH BETWEEN ACCOUNTS RECEIVABLE AND
ACCOUNTS PAYABLE

Answers were Sorted based on User's Feedback



WHAT ARE THE DISTINGUISH BETWEEN ACCOUNTS RECEIVABLE AND ACCOUNTS PAYABLE..

Answer / h.r. sreepada bhagi

Accounts Receivable is nothing but the money receivable form
Customers. It's also shown as Sundry Debtors under Current
Assets, Loans & Advances in the Balance Sheet.

Accounts Payable is nothing but the money payable to
Creditors/Vendors. It's also shown as Sundry Creditors under
Current Liabilities & Provisions in the Balance Sheet.

Is This Answer Correct ?    20 Yes 1 No

WHAT ARE THE DISTINGUISH BETWEEN ACCOUNTS RECEIVABLE AND ACCOUNTS PAYABLE..

Answer / janvi sangle

Accounts Receivables means Debtors,
Accounts payables means creditors of company

Is This Answer Correct ?    5 Yes 1 No

WHAT ARE THE DISTINGUISH BETWEEN ACCOUNTS RECEIVABLE AND ACCOUNTS PAYABLE..

Answer / sr cm exe dipesh gujrati

A/R IS RELATED TO THE SERVICES OR FACILITY OR LOAN WHICH WE
PROVIDE AS IN CHARGE.SO WE CHARGE SOMETHING FOR THAT
SERVICES. SO FROM WHOM WE HAVE TO TAKE THE MONEY, THEY ARE
DEBTOR AND THATS WHY WE SHOW THEM IN OUR ASSETS.
AND A/P IS RELATED TO THE SERVICES/LOAN WHICH WE TAKE FROM
OTHERS IN CHARGE. MEANS WE PAY THEM SOMETHING BECAUSE WE
ARE USING THE FACILITIES FROM OUT SOURCE SO WE HAVE TO PAY
SOMETHING FOR THAT SERVICES. SO ITS OUR LIABLITY TO PAY
THAT S WHY WE SHOW THEM IN LIABLITY.

Is This Answer Correct ?    1 Yes 0 No

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