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Accounts Payable MCQs

What is the definition of accounts payable?

The money from a business that it owed and is shown on the balance sheet as an asset.

(None of these)

The money from a business that it owes and is shown on the balance sheet as a liability.

Answer

Correct Answer: The money from a business that it owes and is shown on the balance sheet as a liability.

Explanation:

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