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Full-cost pricing reduces automobile use by increasing taxes on property in suburbs.
Liability Accounts
These accounts record obligations or amounts owed by a business to creditors, which can include loans, accounts payable, mortgages, and other debts.
Wages Payable
A liability account that records the amounts owed to employees for work performed that have not yet been paid.
Accounts Receivable
Funds that customers owe to a company for products or services provided but for which payment has not been received.
Unearned Revenue
Money received by a business for services or products yet to be delivered or provided, recognized as a liability on the balance sheet.
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