Chapter 9 The Role of Accounting in Business

82. 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 (b; Moderate) 83. If a company arranges to pay later rather than in cash for materials and other expenses, its accountant must set up accounts _____. a. payable. b ... ................
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