ECONOMICS

Detailed explanation-1: -Accounts payable (AP) are amounts due to vendors or suppliers for goods or services received that have not yet been paid for. The sum of all outstanding amounts owed to vendors is shown as the accounts payable balance on the company’s balance sheet.

Detailed explanation-2: -They’re a record of what you owe to suppliers and are key to managing cash flow. Accounts payable definition. Accounts payable refer to the money a company owes its suppliers for goods and services that have been provided and for which the supplier has submitted an invoice.

Detailed explanation-3: -Accounts payable (AP) is money owed by a business to its suppliers to vendors and suppliers for goods that have not been paid for. The term AP is often used to describe a function within a business that is focused on processing payments for suppliers and vendors.

Detailed explanation-4: -Key Takeaways. Accounts payable include short-term debt owed to suppliers. They appear as current liabilities on the balance sheet.

Detailed explanation-5: -Accounts payable (AP) is an accounting term used to describe the money owed to vendors or suppliers for goods or services purchased on credit.