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11.1 Which of the following statements regarding payables and receivables are TRUE?
1 Payables represent money the business owes.
2 Payables are an asset.
3 Receivables represent money owed to the business.
A Statement 1 only
B Statements 1 and 2 only
C Statements 1 and 3 only
D Statement 3 only
答案:C
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