Meaning of owe

[rainer]

Business English Lesson, Advanced Level

ESL/EFL Test #107 "Accounting terms", question 10

Accounts ......... shows how much money your customers owe you.

(a) incoming
(b) receivable
(c) obtainable
(d) collectable

Business English Lesson, Advanced Level

ESL/EFL Test #107 "Accounting terms", answer 10

Accounts receivable shows how much money your customers owe you.

Correct answer: (b) receivable

Your answer was: correct
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what is owe

[Alan]

Hi,

The money you owe is the money you have borrowed. What you owe is called a debt. If you borrow 6000* and you pay back 5000*, you still owe 1000*.

Alan
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