Examlex
The use of various forms of information technology in the production process is referred to as
Liability
A financial obligation or debt owed by a business to an external entity that must be repaid.
Accounts Payable
A current liability account that represents amounts owed by a business to creditors for purchases or services received.
Office Supplies
Items such as pens, paper, and other materials used for daily operations in an office setting.
Accounts Receivable
Debts owed by customers to a business for goods or services already provided but unpaid.
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