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| | accounts payable: Information From Answers.com |
 | | Accounts payable is classified as a liability account and as such normally has a credit balance. | | | The accounts payable entry is found on a balance sheet under the heading current liabilities. | | | This kind of liability usually arises from a purchase of merchandise, materials, or supplies. |
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http://www.answers.com/topic/accounts-payable
(1270 words)
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| | Current liability |
| | Current liabilities appear under "Liabilities" on the balance sheet, and are contrasted with long term liabilities. | | | A current, or short-term liability is a bill to pay or debt coming due within a year. | | | Ready to copy templates for more than 100 important financial metrics. |
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http://www.solutionmatrix.com/current-liability.html
(142 words)
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