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Which of the following statements is FALSE?
Invoices
Documents issued by a seller to a buyer, detailing products or services provided, prices, terms of sale, and payment instructions.
Payroll Documents
Records related to the payment of employees, including details on wages, deductions, and hours worked.
Accounts Payable
The amount of money a company owes to its creditors for goods or services that have been delivered or used but not yet paid for.
Double-Entry Bookkeeping System
An accounting principle where each financial transaction is recorded in two accounts, ensuring the books are always balanced.
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