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Eric decides to purchase and operate a SUBWAY restaurant. Eric is the
Equipment
Tangible property used in operations, such as machinery, computers, and tools, that is not intended for sale.
Inventory Controls
Systems and procedures implemented by a company to manage its inventory efficiently and minimize costs.
Merchandise
Goods that are bought and sold by a business in the regular course of its operation.
Adjusted Trial Balance
A statement prepared after adjusting entries are made, used to verify the balance of debits and credits before preparing financial statements.
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