Match the accounting terminology with its definition and example.Note: Answers may be used more than once.
-Money borrowed to purchase merchandise on credit
A) accounts payable
B) assets
C) corporation
D) cost
E) economic entity assumption
F) liabilities
G) market value
H) monetary unit assumption
I) note payable
J) (paid-in) capital
K) partnership
L) proprietorship
M) retained earnings
N) stockholders' equity
Correct Answer:
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