Question

Accounts payable: Select one: a. Are amounts owed to suppliers for products and/or services purchased on credit. b. Are long-term liabilities. c. Are estimated liabilities. d. Do not include specific due dates.

Answer 1

Answer:

The correct answer is letter "A":  Are amounts owed to suppliers for products and/or services purchased on credit.

Explanation:

Accounts Payable is the amount of the total invoices currently awaiting payment by the company. These invoices are from suppliers of products and services that have recently been delivered. They are usually due within 15, 30 or 45 days after receiving the invoice from the vendor.