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What is the liability arising from the purchase of goods or services on credit?Group of answer choicesA. CreditB. Accounts payableC. LoanD. Accounts receivable

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Solution 1

Break Down the Problem

  1. Identify the nature of liability related to purchasing goods or services on credit.
  2. Analyze the options provided in the context of accounting and finance.

Relevant Concepts

  • Liability: In accounting, liabilities represent obligations owed by a business to o Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
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