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Vito finished first in the school spelling bee, Fabrizio finished second, and Luigi finished third. The first-place winner gets a cash prize and the opportunity to compete at the regional spelling bee, but the others get nothing. Which of the following is most likely to occur?
Receivables
Amounts owed to a company by customers for goods or services that have been delivered or used but not yet paid for.
Raw Materials
Basic materials and substances used in the initial production or manufacturing of goods.
Balance Sheet
A financial statement that reports a company's assets, liabilities, and shareholders' equity at a specific point in time.
Long-Term
Refers to assets, liabilities, or investments that are expected to be held or have an effect for a period exceeding one year.
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