trade payables
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4 Terms
trade payables
the amounts owed to suppliers when businesses buy goods and non-current assets on credit
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.
accounting information
- Cost of inventory
- Cost of nca
- Cost of services
- Trade discounts
- Credit terms and cash discounts
- Delivery charges
- Installation cost
- Maintenance costs
non-accounting information
- Local or overseas supplier
- Online vs brick-and-motar suppliers
- After sales service
- Return policy
- Warranty
- Reputation of suppliers
Note 
Flashcards (21)