When a Company Pays for Services Received Using a Check,it

question 113

True/False

When a company pays for services received using a check,it should credit Accounts Payable until the check is paid by the bank.

---

Definitions:

Limited Wants

The concept that the desires or needs of human beings are finite or restricted due to limited resources and time.

Tradeoff

A scenario in which one characteristic or element is forfeited in exchange for acquiring a different characteristic or element.

Efficiency

The extent to which time, effort, or cost is well used for the intended task or purpose, often with the goal of minimizing waste and maximizing output.

Equality

A state of being equal, especially in status, rights, and opportunities.