_____ refer(s) to current assets resulting from selling a product on credit.
A) Accounts receivable
B) Accounts payable
C) Liabilities
D) Owners' equity

Question

Quizplus · Accepted Answer

Accounts receivable refer to current assets resulting from selling a product on credit. Accounts payable refer to debts owed to suppliers for purchasing on credit. Liabilities refer to debts or obligations owed by a company. Owners' equity refers to the residual interest in the assets of a company after deducting liabilities.

_____ Refer(s) to Current Assets Resulting from Selling a Product