Accounts payable, often known as trade payables, are short-term liabilities representing money owed by a business to its suppliers for goods and services received but not yet paid for.
Trade creditors represent the businesses or entities to whom a company owes money for products and services purchased on credit.
Trade payables, also known as accounts payable or trade creditors, represent the amounts owed by a business to its suppliers for goods and services purchased on credit. They are classified as current liabilities on the balance sheet and play a crucial role in managing the liquidity and operational efficiency of a business.
