Examlex
Which of the following statements is true?
Supplies
Items used in the operation of a business but not directly related to the production of goods or services, such as office supplies.
Accounts Receivable
Money owed to a business by its clients or customers for goods or services delivered on credit.
Notes Payable
Written agreements in which one party agrees to pay another party a certain sum of money at a future date or on demand.
Debit
An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet.
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