Examlex
In handling of daily cash transactions,a few minor errors inevitably will occur.Which of the following is used to adjust the accounting records for these small errors?
Accounts Payable
Liabilities of a business that represent its obligations to pay off a short-term debt to its creditors or suppliers.
Inventory
The overall quantity of products and resources that a business possesses, which are either for sale or to be utilized in manufacturing.
Perpetual Inventory
A continuous tracking system for inventory that records the sale or purchase of inventory in real-time through the use of computerized systems.
Accounts Payable
Debts of a company reflecting the money owed to lenders or suppliers for products and services acquired on credit.
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