👉 (in the plural) Debts owed by a business; liabilities.
Alright class, settle down and let’s take a look! Today we’re tackling a word that might seem a little tricky, “payable.” The dictionary gives us a good start – it tells us it's about debts and liabilities. But what does that really mean? Let’s break it down with a little rhyme: “Payable” means something you need to pay , Like bills you owe, come what may! A business has debts, a financial plea, And those debts are 'payable,' for all to see. Think of it like this: a store might sell you goods, and then you owe them money – that’s a liability. Or perhaps a company needs to pay back loans they've taken out. Essentially, “payable” describes anything that must be settled with payment. It's about fulfilling an obligation, a debt that’s due. Key takeaways: It relates to debts . It signifies liabilities – something a business owes to others. It means needing to make a payment . Do you have any questions? Let's discuss!
