Define the Following Terms

question 22

Short Answer

Define the following terms.
-compare

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Definitions:

Accounts Receivable

Accounts receivable is the balance of money due to a firm for goods delivered or services provided but not yet paid for by customers.

Bought Supplies

The action of acquiring supplies for a business or personal use, often recorded as an expense.

Equipment

Items of property intended for long-term use in the operation of a business, such as machinery and furniture.