What is trade payables ??
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Trade payables are vital to financing the operations of all businesses. Propmt payment help a company to establish a good credit rating and open up revenue to other sources of financing.
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A trade payable is an amount billed to a company by its suppliers for goods delivered to or services consumed by the company in the ordinary course of business. ... If that is not the case, then such payables can be classified as long-term liabilities.
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