Home » Tags » Financial terminology
Financial terminology
Understanding Accounts Payable as a Short-term Debt
December 21, 2023
Can you explain the concept of accounts payable as a current liability?
Accounts payable represent the amounts owed by a company to its suppliers or vendors for goods and services received on credit. They are a significant component of current liabilities, reflecting short-term obligations to be settled.
Tags : Accounts Payable , Current Liabilities , Financial Terminology