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Figure 2.2
Using the figure above, identify the labeled parts.
-What is the anatomical term for Label B?
Accounts
Records within financial accounting that are used to track financial transactions and positions in various categories, such as assets, liabilities, equity, revenue, and expenses.
Prepaid Rent
An advance payment for rent that is recorded as an asset and then expensed over the period the payment covers.
Office Supplies
Items used in offices on a daily basis for functioning and managing tasks, including pens, paper, and office equipment.
Accounts Payable
The amount of money owed by a company to its creditors for goods and services purchased on credit.
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