question 4. 25 points. an accounts payable results when a a business buys a product from a vendor and pays…

question 4. 25 points. an accounts payable results when a a business buys a product from a vendor and pays cash. b a business incurs and expense and makes the payment at a later date. c a business provides a service or sells a product to a customer and the customer pays cash. d a business provides a service or sells a product to a customer and the customer is allowed to pay at a later date.

question 4. 25 points. an accounts payable results when a a business buys a product from a vendor and pays cash. b a business incurs and expense and makes the payment at a later date. c a business provides a service or sells a product to a customer and the customer pays cash. d a business provides a service or sells a product to a customer and the customer is allowed to pay at a later date.

Answer

Brief Explanations:

Accounts payable is a liability account that represents an amount a business owes to a creditor. It arises when a business incurs an expense but does not pay immediately, promising to pay at a later date. Option A involves an immediate cash - payment, so no accounts payable is created. Option C is a cash receipt situation for the business and has nothing to do with accounts payable. Option D creates accounts receivable for the business (amounts owed by customers), not accounts payable.

Answer:

B. a business incurs an expense and makes the payment at a later date.