Explain the difference between Accounts Receivable and Accounts Payable.
What will be an ideal response?
Answer:
Accounts Receivable is an asset account that represents a customer's promise to pay in the future for services or goods sold.
Accounts Payable is a liability account that represents a promise to pay a debt in the future which arises from the credit purchase of goods or services.
Both are described as "on account."
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A(n) ________ is a subsidy that may be challenged as trade distorting if it injures the domestic industry of another WTO member state, nullifies or impairs the benefits due to another member state, or causes or threatens to cause serious prejudice to
the interests of another member state. A. nonactionable subsidy B. consumption subsidy C. actionable subsidy D. prohibited subsidy
The financial account consists COMPLETELY of which four components?
A) stock investment, bond investment, derivative investment, and mutual fund investment B) direct investment, stock investment, net financial derivatives, and bond investment C) direct investment, portfolio investment, net financial derivatives, and other asset investment D) mutual fund investment, portfolio investment, derivative investment, and stock investment