Section 706.777 - Accounts for accounts payable, open accident liabilities and contracts payable1. The account for accounts payable includes all amounts for goods and services received by the company, payable within 1 year from the date thereof and which have not been paid.2. The account for open accident liabilities includes a provision for the amounts set aside by self-insured companies for the actual or estimated liabilities from accidents not totally covered by insurance policies.3. For reporting purposes, that portion of any contract payable that becomes due within 1 year from the date thereof and which has not been paid must be included in the account for contracts payable.Nev. Admin. Code § 706.777
Taxicab Auth., Uniform System of Accounts Reg. §§ 305-310, eff. 12-24-70; A 11-16-79