The Liability Created by a Business When It Purchases Coffee

question 109

Multiple Choice

The liability created by a business when it purchases coffee beans and coffee cups on credit from suppliers is termed a(n)

• A)account payable.
• B)account receivable.
• C)revenue.
• D)expense.

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Definitions:

Standard of Living

The scope of wealthiness, contentment, material commodities, and life's necessities accessible to a certain class within the social economy or a defined area.

Frans Hals

A Dutch Golden Age painter known for his portraits, depicting lively and spontaneous expressions.

Archers of Saint Hadrian

A historical company of archers, often celebrated in art and linked to the defense of certain European regions or cities, specifically in medieval and Renaissance times.

Genre Scene

Artistic depictions of scenes or events from everyday life, rather than historical, religious, or mythological themes.