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All of the following are included in Taylor's four principles of management except?
Expense
An outflow of money or other resources incurred as a result of the company’s operations to generate revenue, representing the cost of doing business.
Prepaid Insurance
An asset account that represents insurance payments made in advance for future coverage periods.
Insurance Expense
The cost incurred by a company to insure its assets, operations, or liabilities against various risks over a specific period.
Accounts Payable
An entry in financial accounts showing a corporation's duty to reimburse a short-term loan from its creditors or vendors.
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