The Law Dictionary

Law Dictionary

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ACCOUNTS PAYABLE

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The sum of all money or accounts a business owes to other parties. This term is usually used with regard to a company balance sheet (in the liabilities section) that is the sum total of all the credit accounts that a company has open and is outstanding and due. … [Read more...] about ACCOUNTS PAYABLE

ACCOUNT, or ACCOUNT RENDER

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In practice. "Account," sometimes called "account render," was a form of action at common law against a person who by reason of some fiduciary relation (as guardian, bailiff, receiver, etc.) was bound to render an account to another, but refused to do so. Fitzh. Nat. Brev. 116; Co. Litt. 172; Griffith v. Willing, 3 Bin. (Pa.) 317; Travers v. Dyer, 24 Fed. Oas. 142; Stevens v. … [Read more...] about ACCOUNT, or ACCOUNT RENDER

ACCOUNTS RECEIVABLE

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The sum of all money or accounts that a business is due to receive from other parties who owe it money. This term is usually used with regard to a company balance sheet (in the assets section) to refer to the sum total of the tab or an account that other parties have open with the company and are due and owed. … [Read more...] about ACCOUNTS RECEIVABLE