Examlex
Which of the following will definitely occur when there is an increase in the supply of and decrease in demand for MP3 players?
Accounts Receivable
Money owed to a company by its clients or customers for goods or services that have been delivered but not yet paid for.
Accounts Payable
Money owed by a company to its creditors for goods and services that have been delivered but not yet paid for.
Accounting Equation
A fundamental principle in accounting that states assets equal liabilities plus owner's equity.
Equipment
Physical assets used in the operation of a business, such as machinery, computers, and furniture.
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