Examlex
An irrigation system is installed on a farm in Kansas. This is an example of which factor of production?
Accounts Payable
A liability account that represents amounts a company owes to suppliers or creditors for goods and services received but not yet paid for.
Stockholders' Equity
The residual interest in the assets of a corporation that remains after deducting its liabilities, representing the ownership stake of the shareholders.
Accounts Payable
An obligation that a company has to pay off short-term debts to its vendors or service providers for purchases made on credit.
Chart of Accounts
An organized classification of all financial accounts in a business's accounting system, facilitating the recording of transactions and financial reporting.
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