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Explain the relationship between liberty and security.
Company's Balance
Refers to the financial position of a company at a specific point in time, encompassing its assets, liabilities, and equity balances.
Outstanding Checks
These refer to checks that have been written and recorded in the accounting records but have not yet cleared the bank account.
Accounts Receivable
Financial obligations of customers towards a business for items or services offered, payable later.
Accounts Payable
Liabilities to creditors that represent amounts the company owes for purchases made on credit.
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