If a Company Arranges to Pay Later Rather Than in Cash

question 33

Multiple Choice

If a company arranges to pay later rather than in cash for materials and other expenses,its accountant must set up accounts _____.

• A)payable
• B)receivable
• C)on hand
• D)accrued

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Definitions:

Finding Approach

A method or strategy used to discover or uncover specific information, solutions, or resources.

Unmet Needs

The gaps in the market where demand for a product, service, or solution exists but is not currently being met by the supply.

Entrepreneurs

Individuals who undertake the creation, organization, and management of a business venture, along with its risks, in order to make a profit.

Marketplace

A platform or environment where commercial transactions between buyers and sellers take place.