Examlex
Which of the following statements about Chandragupta is false?
Accounts Payable Transaction
Financial activities related to the money owed by a company to its creditors or suppliers for goods and services received.
Accounts Payable
Money owed by a business to its suppliers or creditors for goods and services received but not yet paid for.
Credit
An accounting entry that either increases equity, liability, or revenue accounts, or decreases an asset or expense account.
Debit
An entry recorded on the left side of a double-entry accounting system that increases assets or expenses and decreases liabilities, equity, and revenue.