AMOUNT PAYABLE Meaning and
Definition
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The term "amount payable" refers to the sum of money that is owed or required to be paid by an individual, company, or entity to settle a financial obligation. It represents the total financial liability incurred for a particular debt or transaction, usually expressed in monetary terms.
The amount payable can vary depending on the context in which it is used. For instance, in a business setting, it may refer to the outstanding balance of an invoice or bill that a customer is required to pay to a supplier or service provider. In this case, the amount payable would include the cost of goods or services rendered, taxes, and any additional fees or charges.
Similarly, in personal finance, the amount payable can refer to the outstanding balance on a credit card, loan, or mortgage. It represents the remaining principal amount that the borrower must repay to the lender, along with any accrued interest and other applicable charges.
The term "amount payable" is commonly used in various financial documents, such as invoices, billing statements, loan agreements, and contracts, to specify the exact monetary value that needs to be remitted or settled. It serves as a clear indication of the financial obligation that must be fulfilled, ensuring transparency and accuracy in financial transactions.
Common Misspellings for AMOUNT PAYABLE
- zmount payable
- smount payable
- wmount payable
- qmount payable
- anount payable
- akount payable
- ajount payable
- amiunt payable
- amkunt payable
- amlunt payable
- ampunt payable
- am0unt payable
- am9unt payable
- amoynt payable
- amohnt payable
- amojnt payable
- amoint payable
- amo8nt payable
- amo7nt payable
- amoubt payable
Etymology of AMOUNT PAYABLE
The etymology of the phrase "amount payable" can be understood by analyzing the origins of each word:
1. Amount: The word "amount" originates from the Old French word "amonter", which means "to go up, rise, increase". It is derived from the Latin word "ad montem", meaning "to the mountain". This phrase was used in ancient times to indicate the accumulation or adding up of something.
2. Payable: The word "payable" comes from the Middle English word "paiable", which means "to be paid". It is formed by combining the word "pay" with the suffix "-able", indicating the ability or possibility of doing something.
Therefore, the etymology of "amount payable" refers to the sum or quantity of money that is capable of being paid.
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