Question: How does an accounts payable arise with a vendor? Question 1 options: a) When a business purchases on credit, it promises to pay that amount

How does an accounts payable arise with a vendor? Question 1 options: a) When a business purchases on credit, it promises to pay that amount in the future. b) When a company returns purchases to a vendor, the vendor promises to pay the company for the amounts returned. c) When a business makes a cash purchase, it promises to pay the same amount again for future purchases. d) When customers purchase amounts from a company, they promise to pay the company in the future

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!