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Which of the following statements regarding Accounts Payable is​ incorrect? A. Accounts payable represent debts owed to creditors. B. Accounts payable occur because the business receives the goods or services before payment has been made. C. Because accounts payable are typically due in 30​ days, they are current liabilities. D. The Accounts Payable account is decreased with a credit.

Respuesta :

Answer:

D. The Accounts Payable account is decreased with a credit.

Explanation:

As we know that

The account payable is a current liabilities which reflects the debt owed to creditors. Generally, the allowed days are 30 days and first the goods are received than only payment is made

Moreover, it has a credit balance as it is a current liabilities that means if it is increases the same is reflected on credit side and if is decreased the same is shown on debit side

Hence, the D option is incorrect

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