Payable: meaning, definitions and examples

This word is used when referring to an amount that needs to be paid by a certain date, such as bills or invoices.

• The rent is payable by the fifth of each month
• The invoice is payable within 30 days

This term applies to items or debts that can be collected, sometimes used to refer to valuable items that people collect.

• The old coins are collectible and can be sold for a good price
• The debts are collectible after the due date

Typically used in accounting, this word refers to the amount of money that is owed to a business by its customers or clients.

• We need to keep track of our accounts receivable to ensure timely payments
• The company has a large amount of money in receivable accounts

Best used in financial or accounting contexts to describe an amount of money that is due to be paid. It often refers to invoices or bills.

• The invoice is payable within 30 days from the date of issue.
• Rent is typically payable at the beginning of each month.

Used to refer to an amount of money borrowed and expected to be paid back. It can have a negative connotation, often indicating a financial burden.

• They are struggling to pay off their student debt.
• He is in debt after taking out several loans.

A broad term that can refer to any duty or responsibility, not limited to financial matters but also including moral and legal responsibilities.

• Parents have an obligation to take care of their children.
• You have an obligation to report any suspicious activities to the authorities.

Commonly used in legal and financial contexts to refer to any debts or financial obligations a person or organization owes. It can also mean being legally responsible for something.

• The company has significant liabilities on its balance sheet.
• As a driver, you need to have liability insurance.