ACCOUNTS PAYABLE
\ɐkˈa͡ʊnts pˈe͡ɪəbə͡l], \ɐkˈaʊnts pˈeɪəbəl], \ɐ_k_ˈaʊ_n_t_s p_ˈeɪ_ə_b_əl]\
Definitions of ACCOUNTS PAYABLE
- 2006 - WordNet 3.0
- 2011 - English Dictionary Database
- 2010 - Medical Dictionary Database
- 1910 - Black's Law Dictionary (2nd edition)
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By Princeton University
By DataStellar Co., Ltd
By DataStellar Co., Ltd
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Trade credit created by a supplier when it permits a client to pay in the future for goods or services that have already been delivered by the supplier. Payables are a common source of shortterm financing for many industrial and service companies. A client company is generally required to arrange payment within 7 to 180 days, though in some cases terms may extend even further. In exchange for granting the payment extension, the supplier explicitly or implicitly charges a financing cost. See also ACCOUNTS RECEIVABLE.
By Henry Campbell Black