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Taxes

Accounts payable

, is known as accounts payable. These debts are usually short-term and are expected to be paid within a specific time frame.

Accounts payable, a crucial concept in finance, refers to the debts that a person or business owes for services, inventory, and supplies. It is important to note that these debts are typically short-term and must be paid off within a specific time period. In simpler terms, accounts payable represent the money that is owed to others for goods or services received. As a responsible financial decision-maker, it is essential to have a clear understanding of this term and its implications.

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