Question

Bill payable account is a ___________.

• A. personal A/c
• B. real A/c
• C. nominal A/c
• D. none of the above

Answer 1

Answer: (A)

personal A/c

A bill payable is a document which shows the amount owed for goods or services received on credit (meaning not paid at the time that the goods or services were received). The provider of the goods or services is referred to as the supplier or vendor. Hence, a bill payable is also known as an unpaid vendor invoice.