Solved

Match the Following Terms with the Appropriate Definitions Below

Question 258

Matching

Match the following terms with the appropriate definitions below.Definitions have not been provided for all of these terms.

Premises:
A party that borrows resources with the understanding that the resources will be repaid later
The amount borrowed or loaned
What you pay for the use of other people's money or what you earn by lending money
A party that lends resources with the understanding that the resources will be returned later
Assets created by selling goods to customers on credit
Responses:
Creditor
Interest
Accounts receivable
Accounts payable
Liabilities
Debtor
Principal
Sales revenue

Correct Answer:

Creditor
Interest
Accounts receivable
Accounts payable
Liabilities
Debtor
Principal
Sales revenue
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