ACCOUNTS PAYABLE Definition

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ACCOUNTS PAYABLE (AP) are trade accounts of businesses representing obligations to pay for goods and service received.

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FICTITIOUS ASSET is debit balance includes on balance sheets as assets that do not conform to the definition of an asset. Intentional includes of assets known to be fictitious assets may be ruled as fraud.

NET INTEREST MARGIN is the interest income earned on assets less interest expense paid on liabilities and capital. NET INTEREST MARGIN is the gross margin for financial institutions.

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