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Chapter 8

Across
The number of times per year a company pays off its accounts payable.
A potential liability that depends on the future outcome of past events.
Down
Notes payable that are due within one year (or operating cycle if longer).
Accounts payable turnover expressed in days (365/accounts payable turnover).
The amount of the principal of a long-term note that is payable within one year (or operating cycle if longer).
Employee compensation, a major expense of many businesses