Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

The debt created by a business when it borrows from a vendor or supplier is called a ( n ) : a . contingent liability.

The debt created by a business when it borrows from a vendor or supplier is called a(n):
a. contingent liability.
b. account payable.
c. account receivable.
d. intangible asset.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Jane L. Reimers

1st Edition

0131492012, 978-0131492011

More Books

Students explore these related Accounting questions