PAYABLE Definition

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PAYABLE is an amount awaiting payment to be made, e.g. interest payable or taxes payable.

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ACCOUNTING SYSTEM is the set of manual and computerized procedures and controls that provide for identifying relevant transactions or events; preparing accurate source documents, entering data into the accounting records accurately, processing transactions accurately, updating master files properly, and generating accurate documents and reports.

FIELD TRIAL is a test of the performance of a new product under the conditions under which it is intended be used.

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