Accounts Payable Is the Asset Created When a Company Sells

question 80

True/False

Accounts payable is the asset created when a company sells services or products to customers who promise to pay cash in the future.

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Definitions:

Ability

The possession of the means or skill to do something.

Understand

To grasp the meaning, significance, or nature of something through the process of thought, experience, or learning.

World

World refers to the Earth and all life on it, including human societies, the natural environment, and the planet's physical properties.

People

Individuals or groups of humans; often referred to in the context of social, cultural, or professional segments.