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In Noel v.River Hills Wilsons,Inc. ,where Noel sued Wilsons for accidentally providing false negative information to his current employer which caused him to lose his job,the appeals court found that there was no libel or slander on the part of Santillan,a manager at Wilsons,because:
Accounts Receivable
Money owed to a business by its clients or customers for goods or services provided on credit.
Net Income
The total earnings of a company after deducting all expenses and taxes from total revenue, indicating the company's profitability.
Prepaid Expenses
Payments made in advance for goods or services to be received in the future, recorded as assets until they are consumed.
Accrual Basis
An accounting method that records revenues and expenses when they are earned or incurred, regardless of when cash is exchanged.
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