ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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BILLS PAYABLE Definition
BILLS PAYABLE, in merchant accounts, are all bills which have been accepted, and promissory notes which have been made, are called "bills payable," and are entered in a ledger account under that name, and recorded in a book bearing the same title.
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REIMBURSEMENT is to pay back to someone, e.g. to pay an employee for travel expenses that was paid by the employee out of that employees own personal funds.
CONTANGO is the commission paid by a buyer for the postponement of a transaction on a stock exchange when prices for future delivery are higher than those for cash or spot transactions. The opposite is backwardation.
