Examlex
While the IUPAC name for HCO2H is methanoic acid,it is commonly known as ___.
Accounts Payable
Liabilities representing amounts owed by a company to suppliers for goods and services received but not yet paid for.
Credit Entries
Accounting entries that increase liabilities or equity or decrease assets, reflecting gains to a company's balance sheet.
Expense Account
An income statement account that represents the cost of goods sold or services provided to generate revenue.
Credit Balance
A credit balance occurs when the total credits in an account exceed the debits, often seen in liability, revenue, and equity accounts.
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