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If a customer owes interest on a bill, Accounts Receivable is debited, and Interest Expense is credited.
Categorical Variable
A type of variable that can take on one of a limited, and usually fixed, number of possible values, assigning each individual or other unit of observation to a particular group or nominal category on the basis of some qualitative property.
Marital Status
Marital status is a legally defined marital state that individuals fall under, such as single, married, divorced, or widowed, often used in demographic studies.
Married
A legal and social status that signifies the union of two individuals, typically recognized by law, where they assume certain rights and duties.
Raw Material
Basic materials that are used in the production of goods, finished products, or intermediate materials that are feedstock for future finished products.
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