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Which of the following is not a position found in corrections?
Inventory Method
An accounting approach used to value inventory, including procedures like First-In, First-Out (FIFO) or Last-In, First-Out (LIFO).
Perpetual
An inventory system where transactions are recorded in real-time, immediately affecting the inventory account, providing an ongoing record of inventory on hand.
Unearned Rent Revenue
Income received by a company for rent that has been paid in advance by tenants but not yet earned, considered a liability until the rental period occurs.
Liabilities
Financial obligations or debts that a company owes to external parties, which must be settled over time through the transfer of assets, provision of services, or other forms of economic benefit.
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