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Explain the economic assumption that "people are rational."
Debts Owed
Amounts of money that are required to be repaid by an individual or organization to creditors.
Drawing Account
A specific account used to record amounts withdrawn by the owner(s) of a business for personal use.
Withdrawals
Amounts taken from a business by its owner(s) for personal use.
Expenses
Costs incurred by a business in the process of earning revenue.
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