Examlex
Which of the following is true of the UCITA?
Bought Supplies
The action of acquiring supplies for a business or personal use, often recorded as an expense.
Equipment
Items of property intended for long-term use in the operation of a business, such as machinery and furniture.
Liability Account
An account representing an obligation or amount owed by a business to others, such as loans, accounts payable, or mortgages.
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