JAMB Accounting 2025 Objective — Question 13
Question 13 of 41 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2025 Objective paper, with the correct answer and a full explanation.
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A firm buys products but does not pay suppliers instantly. This is recorded as
- A. Account Receivable
- B. Account PayableCorrect
- C. Accumulated Liabilities
- D. Current Liabilities
Explanation
When supplies are not paid for, the amount owed becomes creditors (accounts payable).
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