General principles are the basic assumptions,concepts,and guidelines for preparing financial statements.GAAP aims to make information relevant and representationally faithful.
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Q21: The business entity principle means that accounting
Q27: The monetary unit assumption means that companies
Q28: Objectivity means that financial information is supported
Q30: A limited liability company offers the limited
Q32: The business entity assumption means that a
Q33: Objectives,qualitative characteristics,elements,and recognition and measurement are components
Q34: A partnership must pay an additional business
Q35: The four common forms of business ownership
Q37: A limited liability company offers the limited
Q38: As a general rule, revenues should not
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