Question: 11.1 Identify, by indicating the relevant box in the table below, whether each of the following statements is true or false. Payables represent money the

11.1 Identify, by indicating the relevant box in the table below, whether each of the following statements is true or false.

Payables represent money the True False business owes.

Payables are an asset.

True False Receivables represent money True False owed to the business.

(2 marks)

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