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The main function of lacteals is
Accounts Payable
A company's financial liability to its suppliers or creditors for received goods and services.
Accounts Receivable
Accounts Receivable are amounts owed to a business by its customers from sales or services provided on credit.
Prepaid Insurance
Payments made in advance for insurance coverage, classified as a current asset on the balance sheet until the coverage period expires.
Revenue Recognition Principle
An accounting principle that dictates the specific conditions under which revenue is recognized or accounted for.
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