Write the Correct Meaning for VF

question 19

Short Answer

Write the correct meaning for VF:

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Definitions:

Credit

An accounting entry recording a sum that has been received or is receivable, typically representing an increase in assets or a decrease in liabilities.

Services

Tasks or activities performed for the benefit or convenience of others, often in exchange for payment.

Asset Account

An account on a company's balance sheet that represents tangible or intangible items of value owned by the company.

Liability Account

An accounting record that represents a company's legal debts or obligations that arise during business operations.