Examples of business transactions include

a.borrowing money.

b.buying goods and services.

c.selling goods and services.

d.All of these choices are correct.

An example of the process phase of the accounting process would be

a.transactions.

b.the financial statements.

c.identifying accounts.

d.None of these choices are correct.

Which word or phrase best describes a liability?

a.payables

b.receivables.

c.future benefit.

d.None of these choices are correct