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Can accounts receivable and accounts payable be a non-current

Can accounts receivable and accounts payable be a non-current

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Answer #1
  • Usually, account receivables are current assets, which can be received with in less than 12 months and usually offer terms of 30,60 or 90 days to the customers.
  • How ever, however, non-current note receivables are written obligations, that creditors receive from the debtors, in exchange for funds that are not due within the next 12 months.
  • These are the part of company's non current or long term assets
  • Also, account payables are usually current liabilities that a company owes, to be repaid with in 12 months, usually offers terms of 30,60 and 90 days, similar to account receivables.
  • But when these accounts payables exceed 12 months, they can be stated as other payables under non current liabilities
  • And hence, yes, account receivables and accounts payables can be non current in some cases
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