QUESTIONS Accounts payable are: Long-term liabilities Not usually due on specific dates. Estimated liabilities. Amounts owed to suppliers for products and/or services purchased on credit. Always payable within 30 days. QUESTION 6 A bond sells at a discount when the: Contract rate is above the market rate. Bond has a short-term life. Bond pays interest only once a year. Contract rate is equal to the market rate, Contract rate is below the market rate