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The following is a list of accounts commonly seen in financial statements. Identify whether each account appears on the balan
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Answer #1

Accounts PayableLiability 

Property, Plant, and EquipmentAsset 

InventoriesAsset 

Long-Term DebtLiability 

Cost of Goods SoldExpense 

Retained EarningsEquity 

Research and DevelopmentExpense 

Prepaid ExpenseAsset 

Common StockEquity 

Accounts ReceivableAsset 

source: Accounting
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