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A note receivable is a negotiable instrument which a. Eliminates the need for a bad debts allowance. Information you have already completed the quiz before. Web the purchase of assets is recognized under this category. The matching principle states that expenses must be matched to revenues in the period in which they were incurred. Takes the place of checks in a business firm. Accounting i study guide chapter 9. Cash discount an organization with the legal rights of a person and which may be owned by many persons. Hence you can not start it again. Four types of business formation
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