To Determine the Payables Turnover,one First Calculates the Days' Payable

question 173

True/False

To determine the payables turnover,one first calculates the days' payable.

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Definitions:

Income Statements

A financial statement that shows a company's revenues, expenses, and profits or losses over a particular period.

Trial Balance

An accounting report that lists all the balances of each ledger account to ensure that debits equal credits, used as a tool for checking the accuracy of bookkeeping entries.

T Accounts

A graphical representation used in accounting to show the effects of transactions on individual accounts.

Net Income

The total earnings of a company after subtracting all expenses, taxes, and losses.