Examlex
Sam and Julie each scored 110 on the WAIS. Based on their scores, which is true?
Accounts Payable
Money owed by a business to its suppliers or creditors for goods and services received but not yet paid for.
Recorded Increases
Entries in financial records that reflect an increase in assets, revenues, or any account that adds to the net worth or net income of a company.
Debited
In accounting, this term indicates that an entry has been made to the left side of an account, increasing assets or expenses, or decreasing equity, liability, or revenue.
Proprietorship
A business structure owned by a single individual, where the owner is personally responsible for the business's debts and liabilities.
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