Accounts payable refers to which of the following?

Accounts payable is a key concept in accounting that represents the total amount a business owes to its vendors or suppliers for goods and services purchased on credit. This can include a variety of expenses such as office supplies, medical equipment, and other operational costs that have not yet been paid. In healthcare practices, managing accounts payable is essential as it helps maintain good relationships with vendors, ensuring that the practice has the necessary resources to operate efficiently.

In contrast to the other options, which refer to different financial aspects of a medical practice, the correct choice specifically identifies the obligations to vendors, which is the essence of accounts payable. The monthly wages paid to employees is categorized as payroll or labor expense and does not fall under accounts payable. Similarly, amounts owed to insurance companies and medical bills sent to insurers relate to receivables, which are income expected to be received rather than debts owed. Thus, focusing on the obligations to vendors is what correctly defines accounts payable.