If You Buy Something with the Intent to Pay Later

question 44

Multiple Choice

If you buy something with the intent to pay later rather than in cash,the seller will set up an account _____.

• A)depreciable
• B)receivable
• C)expense
• D)liability

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Definitions:

Office Workers

Individuals employed in a primarily clerical or administrative capacity, working within an office environment.

Communism

A political and economic ideology advocating for a classless society in which property and the means of production are owned communally, and each person works and is remunerated according to their abilities and needs.

Division of Labor

The allocation of different parts of a manufacturing process or task to different people to improve efficiency and productivity.

Repetitive Tasks

Activities or processes that are performed in the same manner repeatedly over a period of time.