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What Are Accounts Payable? - Definition & Examples

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What's the best explanation of accounts payable?

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1. What's not a typical characteristic of an account payable?

2. Accounts payable are reported on which financial document?

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About This Quiz & Worksheet

Accounts payable is an important concept in financial accounting, and this quiz/worksheet will help you test your understanding of its meaning and implications. Some of the topics you'll be assessed on include the definition of accounts payable as well as the document on which accounts payable are reported.

Quiz & Worksheet Goals

In these assessments you'll be tested on various facets of accounts payable, including:

  • Types of purchases typically related to accounts payable
  • Examples of accounts payable
  • Financial document on which accounts payable are reported on
  • Definition and characteristics of accounts payable

Skills Practiced

This quiz and worksheet allow students to test the following skills:

  • Knowledge application - use your knowledge to answer questions about the definition and characteristics of accounts payable
  • Reading comprehension - ensure that you draw the most important information from the lesson on accounts payable
  • Information recall - access the knowledge you've gained regarding the financial document on which accounts payable are reported on as well as examples of accounts payable and the types of purchases related to accounts payable

Additional Learning

To learn more about accounts payable, review the accompanying lesson, What is Accounts Payable? - Definition & Examples. This lesson covers the following objectives:

  • Define accounts payable
  • Familiarize yourself with examples of accounts payable
  • Understand the different forms and applications of accounts payable
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