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4. Inventory held by a business is a(n) and when sold becomes a(n) (1 Point) A) liability; withdrawal B) asset; expense ) liability; asset D)
4. Inventory held by a business is a(n) and when sold becomes a(n) (1 Point) A) liability; withdrawal B) asset; expense ) liability; asset D) asset; contra asset 5. Credit terms of 1/10 n/30 indicates that the buyer is: (1 Point) [ A) allowed a 10% discount if payment is made within 30 days. B) allowed a 1% discount if payment is made within 10 days. Q) allowed a 1% discount if payment is made within 30 days. D) allowed a 30% discount if payment is made within 10 days
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