Write True or False to the Statements Below

question 90

True/False

Write True or False to the statements below.If the statement is false, rewrite the underlined word or phrase to make the statement true.
-Europe's industrial revolution developed first in areas with a cheap labor force.

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Definitions:

Income Tax Expense

The amount of money a company or individual owes to the government based on the taxable income for a given period.

Average Collection Period

The average number of days it takes for a business to collect its accounts receivable.

Accounts Receivable

Money owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.

Sales on Account

Transactions in which revenue is accounted for at the time of sale, but payment is deferred to a later date.