The Debt Created by a Business When It Makes a Purchase

question 131

Multiple Choice

The debt created by a business when it makes a purchase on account is referred to as an

• A) account payable
• B) account receivable
• C) asset
• D) expense payable

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Definitions:

Unique Set of Needs

Specific, individual requirements or desires that vary from person to person, influencing behavior and satisfaction.

Maslow's Need Hierarchy

A theory of human motivation which states that people are motivated to fulfill basic needs before moving on to other, more advanced needs.

Incentives

Rewards or motivations provided to encourage specific behaviors or outcomes, commonly used in organizational settings to enhance performance.

Physiological Need

Basic physical requirements for human survival, such as food, water, and shelter, as identified in Maslow's hierarchy of needs.