Correct Answer: to check for outstanding credits.
Explanation:
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More Accounts Payable MCQ Questions
Accounts Payable is _________.
From the Accounts Payable point of view, what are the main problems that arise between Accounts Payable and Purchasing?
Where do you record the payment terms for the money that a client owes to a vendor?
When clients have customers who are also vendors, what is the best way to offset Accounts Payable against Accounts Receivable?
How will you track the deposits that clients pay to the vendors?
True or False? The account payable for one company corresponds to another company's account receivable.
What is the definition of accounts payable?
What is the definition of a purchase order?
True or False? A vendor invoice is sent from a vendor to a company for some services or goods rendered.
A reduced price for a certain product is called which of the following?