TRADE PAYABLE Definition

Bookmark and Share

TRADE PAYABLE, also known as an account payable, is an amount owed to a creditor for goods and services received.

Learn new Accounting Terms

OPTION is the formal reservation of the right to buy or sell property / assets at a certain price and / or within a given time in the future, e.g. a contract allowing, but not requiring, the holder to buy (call) or sell (put) a specific security at a specified price during a specified time period or on a specified date. Options may trade on exchanges or over­the-counter.

STANDARD COST is production or operating cost that is carefully predetermined. A standard cost is a target cost that should be attained. The standard cost is compared with the actual cost in order to measure the performance of a given costing department or operation. See STANDARD COST SYSTEM.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.