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Position issues have increased in importance in recent years.
Accrued Liabilities
Liabilities that have been incurred (i.e., they represent obligations) but have not yet been paid or recorded through the normal invoicing process.
Operating Activities
Activities directly related to the core business operations of a company, including sales, service, and production.
Prepaid Expenses
Payments made in advance for goods or services to be received in the future.
Income Taxes Payable
The amount of income tax a company owes to the government but has not yet paid, reflected as a liability on the balance sheet.
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