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In the short run, wages and some prices are considered to be:
Direct Write-off Method
An accounting method where uncollectible accounts receivable are directly written off against income at the time they are considered unrecoverable.
Formal Written Instrument
Refers to a legal document that formally records a transaction, agreement, or legal obligation between parties.
Credit
Amount entered on the right side of an account.
Notes Receivable
Financial assets representing amounts owed to a company, usually evidenced by a formal promissory note.
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