Examlex
Which of the following apply to a sole proprietorship:
Total Liabilities
The cumulative amount of all debts and financial obligations a company owes to outside parties.
Accounts Receivable
Receivables from clients to a corporation for merchandise or services that have been supplied but remain unpaid.
Merchandise Inventory
Merchandise inventory represents the goods a company has in stock that are ready to be sold in the normal course of business.
Accounts Payable
Accounts payable are liabilities representing the amounts that a company owes to creditors for purchases or services rendered that have not yet been paid.
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