Question
a.
When it is held primarily for the purpose of being traded.
b.
When it is due to be settled within twelve months after the reporting date.
c.
When it is in respect of the amount due on account of goods purchased or services received in the normal course of business.
d.
When it is expected to be realized in the company's normal operating cycle.
Posted under IC 89 Management Accounting
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Q. When is a payable classified as a 'trade payable'?
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