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Pizza is a normal good.If students' incomes at your college increase,the effect on pizza will be:
Merchandise Inventory
The total value of a company's goods that are ready for sale but still in stock, representing a current asset on the balance sheet.
Accounts Payable
A liability in the form of amounts owed by a company to its creditors or suppliers for goods or services received.
Perpetual Inventory System
An inventory system that records changes in inventory levels after every transaction, ensuring continuous, real-time updates.
Accounts Payable
A liability account that records amounts owed by a company to suppliers or creditors for purchases made on credit.
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