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Use the following to answer questions:
Matching
Match the federal laws with their effects.
-Sherman Antitrust Act
Notes Payable
Liabilities representing amounts borrowed by a company that must be repaid, often with interest, as evidenced by a promissory note.
Notes Payable
A financial obligation represented by a written promise to pay a certain amount on a specific future date or dates, typically encompassing loans or credit extended by one party to another.
Contra Account
An account that is used to offset another account on the balance sheet, such as accumulated depreciation for fixed assets.
Legal Liability
The responsibility imposed by law to compensate for or rectify any harm, loss, or damage one's actions or decisions have caused to others.
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