Financial Statements
Accounts Payable
Definition
What is Accounts Payable?
Amounts owed to suppliers for goods or services received.
Example in practice
How This Looks in Practice
The manufacturer has 60 days to pay its raw-material supplier.
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Related Terms
Financial Statements
Revenue
Income generated from selling goods or services before expenses are deducted.
Financial StatementsSales Growth
The percentage increase or decrease in revenue over a period.
Financial StatementsCost of Goods Sold
Direct costs attributable to goods or services sold during a period.
Financial RatiosGross Margin
Gross profit expressed as a percentage of revenue.