This year an operation has an accounts payable balance on the balance sheet of $189,025. The previous

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This year an operation has an accounts payable balance on the balance sheet of $189,025. The previous year, the operation had a balance of $166,400 for this same account. What was the operation’s percentage variance in the account?

a. 13.6%

b. -13.6%

c. 12.0%

d. -12.0%

Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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