Guru Accounts Payable Test

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Exam Type: Guru Skill Test
Success Rate: 100%
Last Update June, 2019

Exam Detail

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Account payable is known as an accounting entry that characterizes an obligation of entity to pay off a debt that is short term to its creditors. The Accounts Payable entry is often on the balance sheet always under the heading of Current Liabilities. These mainly are known and/ or referred as “payables”. A very frequent usage of Accounts Payables denotes to a division or a business department that is accountable for releasing payments due by the institution or company or the organization to the suppliers and/ or by other creditors. Accounts payable are sometimes referred to the debts that should be paid off within a definite set period of time or duration to avoid default. For example, at the corporate level, Accounts Payable also denotes to debt payments that are short term to the banks and suppliers. Anyways, we cannot cover and define everything here even if we try to. Also, it’s really a tricky subject that you must seek help from to appear in Accounts Payable Guru Skill Test to make sure you achieve top percentile.

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