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Match Each of the Following Terms Pertaining to Liabilities to Their

Question 51

Multiple Choice

Match each of the following terms pertaining to liabilities to their definitions.
-Amounts owed for the purchase of inventory, goods, or services acquired in the normal course of business.


A) Current liability
B) Accounts payable
C) Notes payable
D) Discount on notes payable
E) Current maturities of long-term liabilities
F) Accrued liabilities
G) Contingent liability
H) Estimated liability

Correct Answer:

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