PRC-1 · Chapter 3 · Question 29 of 100
The 'Payables Ledger' is also commonly referred to by which alternative name in accounting terminology?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Purchase Ledger
Explanation
The Payables Ledger contains all individual accounts for suppliers from whom the business buys inventory on credit. Consequently, it is frequently called the purchase ledger or supplier ledger.
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