Accounts Payable is used to maintain ________________________________.

Question

BlackTom AI · Accepted Answer

The question asks what Accounts Payable is used to maintain. The provided answer indicates: 'the funds owed by your company for goods and services provided by your suppliers.'

In general, Accounts Payable is a liability account that tracks what a company owes to its vendors for purchases made on credit. It reflects obligations to suppliers and remains on the balance sheet until those obligations are paid. This aligns with the core function of AP: monitoring amounts payable, due dates, and settlement of short-term liabilities arising from purchases of goods or services.

Without the list of answer options to compare, we can still reason about the concept: if an option described AP as tracking cash you currently have, that would be incorrect because AP tracks amounts you owe, not cash on hand. If an option claimed AP governs revenue or customer payments, that would be incorrect because those tasks belong to accounts receivable and cash receipts. If an option suggested AP records fixed assets or depreciation, that would also be misattributed to a different asset or depreciation module rather than AP.

Thus, the accurate understanding is that Accounts Payable maintains the funds you owe to suppliers for goods and services received on credit, reflecting current liabilities and helping with cash flow planning and vendor management.

SG30018E2 - Sage 300 2018 Accounts Payable Module 1 Quiz

Accounts Payable is used to maintain ________________________________.

查看解析

登录即可查看完整答案

类似问题

True or False? Accounts payable represents money that is owed to a business.

If accounts payable increase during an accounting period, then the cash paid for merchandise purchased is less than the merchandise purchases for the period.

What is a current liability that results when a business does not pay cash when the asset is purchased?

Paid $12,000 cash for account previously owed to cleaning equipment suppliers.

Accounts payable represent money that a firm owes to ________.

What is the Invoice Count for Period 01 for Vendor Group SUP, as determined in Step 9?

In the A/P Post Batches form, which of the following types of batches can you not post?

What is the purpose of posting adjustment batches in the Accounts Payable module immediately after they have been reviewed for errors and printed? Select the best answer.

更多留学生实用工具

考试浏览器助手

风格化写作助手

论文查重助手

文献引用助手

课堂转译助手

课堂笔记助手

Quiz搜索助手

学校历年真题

智能刷题助手

智能匹配练习

希望你的学习变得更简单