____ is money owed by a company to other companies for services and goods. A billable service is assistance that is provided by a healthcare provider and can be billed to the insur... ____ is money owed by a company to other companies for services and goods. A billable service is assistance that is provided by a healthcare provider and can be billed to the insurance company or patient.
Understand the Problem
The question presents multiple-choice items related to accounting and healthcare billing concepts. The first question asks about terms related to money owed to companies, and the second queries the definition of a billable service in healthcare. This appears to be part of a quiz or assessment.
Answer
Accounts payable
The final answer is accounts payable.
Answer for screen readers
The final answer is accounts payable.
More Information
Accounts payable is a common liability account on the balance sheet representing amounts a company owes to suppliers for goods and services purchased on credit.
Tips
Confusing 'accounts payable' with 'accounts billable' can occur. Remember that 'payable' indicates liabilities, while 'billable' describes potential revenue.
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