Examlex
In which of the following situations is group polarization least likely to occur?
Accounts Payable
Accounts payable is a liability account that records amounts a company owes to suppliers or creditors for goods and services received but not yet paid for.
Utilities Expense
The cost incurred from the consumption of utility services such as electricity, water, and gas in the business operations.
Income Summary Account
An account used in closing entries to gather all income and expense items, facilitating the transfer of their net balance to retained earnings.
Expense Accounts
Accounts used to record the costs incurred to operate a business, which are then matched against revenues to determine net income.
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