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COGNITIVE ASSESSMENT You have a collection of all the photos, videos, and audio you have captured from your new nephew. What is the name for this collection?
Credit Cash
An accounting entry that decreases the cash balance in the company’s books, often as a result of paying out cash for expenses or liabilities.
Accounts Payable
Liabilities of a business that represent its obligations to pay off a short-term debt to its creditors or suppliers.
Accounts Receivable
Money owed to a business by its clients or customers for goods or services delivered or used but not yet paid for.
Normal Balance
The side (debit or credit) of an account that is expected to have a higher balance based on the accounting equation; assets and expenses normally have a debit balance, while liabilities, equity, and revenue normally have a credit balance.
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