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
The liability arising from the purchase of goods or services on credit is B. Accounts payable. This is because when a company purchases goods or services on credit, it does not pay cash immediately. Instead, the company records the amount as accounts payable, which is a liability on its balance shee Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
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