Examlex
Identify the part indicated in the image.
Asset
An economic resource owned or controlled by an individual or company, expected to provide future benefits.
Liability
A financial obligation or debt owed by a business to an external entity that must be repaid.
Accounts Payable
A current liability account that represents amounts owed by a business to creditors for purchases or services received.
Office Supplies
Items such as pens, paper, and other materials used for daily operations in an office setting.
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