Examlex
Mary was selected by an organization, and she is an excellent performer. Pascal was selected by an organization, but he is doing very poor work. In this example, Mary is _____ and Pascal is _____.
Owner's Equity
The residual interest in the assets of the entity after deducting liabilities, representing the owner's claim on the business assets.
Expenses
Costs incurred in the process of earning revenue, including operational costs like rent, utilities, and payroll.
Withdrawals
Refers to the act of taking money out of a bank account or the removal of funds from a business by its owner for personal use.
Accounts Payable
The amount of money a company owes to its suppliers or vendors for goods or services received but not yet paid for.
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