Asked/Added Questions From NCERT:

Question 1. Asked on :20 September 2020:07:27:07 PM

 What is Diference Between AP (Accounts payable) and AR (Accounts receivable)?

-Added by nisha sheikh Accountancy » Accounting Gk


nisha sheikh
Accounts PayableAccounts Receivable
The amount a company owes because it purchased goods or services on credit from a vendor or supplier.The amount a company has the right to collect because it sold goods or services on credit to a customer.
Accounts payable are liabilities.Accounts receivable are assets.

-Answered by nisha sheikh On 20 September 2020:07:38:45 PM(20516Average Rating Based on rating)


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