Interested to Buy Any Domain ? << Click Here >> for more details...
What do you mean by the term Accounts Payables/ Receivables?
- 4 Answers
- 16583 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / ch.babu
Both are exist when transactions made on credit instead of
cash.
Accounts Payable: Company/customer owes to the supplier
when goods or servies purchased on credit.
Accounts Receivable:money owed by the customer to another
entity in exchange of goods or services that have been
delivered or used, but not yet paid for. this will occur on
credit sales.
| Is This Answer Correct ? | 34 Yes | 1 No |
The Total Credit purchases is Accounts payable / Sundry
Creditors, which appear in Liabilities side.
The Total Credit Sales is Accounts Receivables / Sundry
Debtors, which appear in Assets side.
| Is This Answer Correct ? | 11 Yes | 0 No |
Answer / chandu
the term accounts payables means sundry creditors. including creditors and trade creditor, the term is used in balance sheet but not individual.
the term accounts receivables means sundry debtors, sundry debtors includes both debtors and trade debtors the term is used in balance sheet but not individual.
| Is This Answer Correct ? | 13 Yes | 4 No |
WHAT ARE THE DISTINGUISH BETWEEN ACCOUNTS RECEIVABLE AND ACCOUNTS PAYABLE
How many types of inventories are there for a company ?
When we are doing the reconciliation process in cash management please tell me what are the different status will happen and when will it happen. Please help me out.
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
Describe in brief introduction of Account.
Explain what makes a successful account manager?
As you know executive accounting?
What will be journal entry of provision for income tax in current year and Adjustment entry in next year
If any co. purchase goods from abc co. payment will made in advance. Can abc co. is creditor or not. Pls. answer.
Tell me different branches of accounting?
difference b/w trading a/c & manufaturing a/c.
How do you prepare a balance sheet from a trial balance?
Audit 
