trade payables

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4 Terms

1
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trade payables

the amounts owed to suppliers when businesses buy goods and non-current assets on credit

2
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why do businesses buy goods on credit?

it can receive the goods and ncas first and pay later. Thus, cash can be used for other operations of the business.

3
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accounting information

-          Cost of inventory

-          Cost of nca

-          Cost of services

-          Trade discounts

-          Credit terms and cash discounts

-          Delivery charges

-          Installation cost

-          Maintenance costs

4
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non-accounting information

-          Local or overseas supplier

-          Online vs brick-and-motar suppliers

-          After sales service

-          Return policy

-          Warranty

-          Reputation of suppliers