BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Accounts payable (AP), or “payables, ” refer to a company’s short-term obligations owed to its creditors or suppliers, which have not yet been paid. Payables appear on a company’s balance sheet as a current liability.

Detailed explanation-2: -Accounts payable. Found within a company’s general ledger, accounts payable represents a short-term debt that a business owes to its creditors, suppliers and others.

Detailed explanation-3: -Accounts payable is a liability since it is money owed to creditors and is listed under current liabilities on the balance sheet. Current liabilities are short-term liabilities of a company, typically less than 90 days. Accounts payable are not to be confused with accounts receivable.

Detailed explanation-4: -Short-term debt, also called current liabilities, is a firm’s financial obligations that are expected to be paid off within a year. Common types of short-term debt include short-term bank loans, accounts payable, wages, lease payments, and income taxes payable.

Detailed explanation-5: -Share. Long-term liabilities, also called long-term debts, are debts a company owes third-party creditors that are payable beyond 12 months. This distinguishes them from current liabilities, which a company must pay within 12 months. On the balance sheet, long-term liabilities appear along with current liabilities.