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Auguste Comte's philosophy held that
Personal Use
Utilization of a company or business asset for individual, non-business related activities or benefits.
Drawings
Withdrawals of cash or other assets from a privately-owned business by the owner(s) for personal use.
Liabilities
Financial obligations or debts that a company owes to others, which must be settled over time through the transfer of economic benefits.
Debts And Obligations
Financial commitments or responsibilities, such as loans and promissory notes, that an entity is required to pay to others.
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