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Account Payable Test Free. Accounts Payable Practice Quiz Questions with Test. If you have difficulty answering the following questions, learn more about this topic by reading our Accounts Payable (Explanation).

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Check out Outright, a free online bookkeeping system with a clean aesthetic. Accounts Payable is an obligation of a business that originates because of sales made on credit. Accounts payable is an account within the general ledger representing a company's obligation to pay off a short-term debt to its creditors or suppliers.

Accounts payable is an account within the general ledger representing a company's obligation to pay off a short-term debt to its creditors or suppliers.

Accounts payable (also known as creditors) are balances of money owed to other individuals, firms or companies.

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These are short term obligations which come into existence when a sole proprietor, firm or company purchases goods or services on account. Accounts payable is usually one of the more important audit areas. Accounts payable (A/P) is the money you owe vendors who have provided you with goods and/or services on credit.