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Which one of the following is the correct sequence for a regulatory reflex arc?
Salaries Expense
The total amount paid to employees for services rendered during a specific period, typically recorded as an operating expense.
Accounts Payable
Debts incurred by a company towards its suppliers, reflected as liabilities on its balance sheet.
Prepaid Insurance
An asset account that represents insurance paid in advance, which is not yet expired and thus not yet an expense.
Owner's Capital
The equity in a firm attributable to the owner, reflecting the amount invested by and the earnings retained for the business owner.
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