obaveze

obaveze

A liability arising when a vendor provides goods or services that are not immediately paid for and where the liability is not formalized in writing but backed by the reputation and credit worthiness of the debtor When a business using the accrual basis of accounting purchases goods or services the company reports an expense and an account payable When payment is made the account payable is reduced

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Part of Speech: noun
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Blossary:
Industry/Domain: Accounting
Category: Tax
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