Which of the following expenses is classified as accounts payable
What type of expense is accounts payable?Accounts payable (AP) is a liability, where a company owes money to one or more creditors. Accounts payable is often mistaken for a company's core operational expenses. However, accounts payable are presented on the company's balance sheet and the expenses that they represent are on the income statement.
Are expenses considered accounts payable?Accounts payable are expenses that come due in a short period of time, usually within 12 months.
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