A credit union is the most likely type of financial institution.
Which of the following phrases describes debt owed to a business by clients or customers who have agreed to pay for the goods later?
The sum of money that clients owe your business for goods or services that have been supplied is represented by accounts receivable (AR).
What financial statements are used by businesses to assess their financial health?
The income statement, often known as the profit and loss statement or P&L, gives a brief overview of the revenues and expenses for a given time frame. Organizations can compare trends in income and spending over time using the income statement, which is frequently published annually or quarterly.
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