Bill (payment)
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A bill is a document requesting payment for goods and services previously supplied. This presentation of a bill is common practice on the part of restaurants, credit card companies, utilities, and other service providers. The bill for something is the total price of all services and goods received but not yet paid for, and is presented in the expectation of immediate payment in full. If a bill is not paid, a collections company is usually given the responsibility of collecting the amount due and service is terminated.
When a company cannot pay its bills, it is said to be insolvent.