C1 Purpose of accounting Flashcards by omar abdi

Q

what are trade receivables?

A

money owned by the business, but not yet received

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

what are trade payables?

A

money owed by the business, but not yet paid

How well did you know this?

1

Not at all

2

3

4

5

Perfectly