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During the 1970s, conservatives:
Inventory
Items held for sale in the ordinary course of business, or materials and supplies used or consumed in the production process.
Accounts Payable
Money owed by a company to its creditors or suppliers for goods and services received but not yet paid for.
Income Tax Expense
The cost incurred by businesses or individuals due to taxes on their income.
Income Taxes Payable
The amount of income tax a company owes to the government but has not yet paid.
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