Question

what is meaning of bills payable and liability insurance policy​

Answer 1

Explanation:

In the context of personal finance and small business accounting, bills payable are liabilities such as utility bills. They are recorded as accounts payable and listed as current liabilities on a balance sheet.

Answer 2

Answer:

Bills payable can be a synonym of accounts payable, or it can refer specifically to short-term borrowing by banks from other banks, often the country's central bank.