What Is the Definition of the Following Term

question 8

Short Answer

What is the definition of the following term:
-too narrow:

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Definitions:

Accrued Fees

Accrued fees are charges earned or incurred that have not yet been received or paid, respectively, and are recognized in the accounting period they are earned.

Accounts Payable

Liabilities or money owed by a business to its suppliers or creditors for goods and services purchased on credit.

Accounts Receivable

The money owed to a business by its customers for goods or services delivered on credit but not yet paid for.

Balance Sheet Account

An account that appears on the balance sheet, representing a business's financial position at a specific moment, including assets, liabilities, and equity accounts.