Examlex
Your therapist, Dr. Schmitt, tells you that he practices integrative therapy. This means that he
Liabilities
Debts or obligations of a business that arise during the course of its operations.
Withdrawals
Refers to the act of taking money out of a bank account, or in the context of partnerships, amounts taken out by partners for personal use.
Expenses
Costs incurred by a business in the process of earning revenues, including utilities, rent, payroll, and materials.
Owner's Equity
The residual interest in the assets of the entity after deducting liabilities, representing the ownership interest in the company.
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