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Define a list of Accounting Terms

Definitions of important accounting terms

ACCOUNTS
REPORTING ENTITY
MATERIALITY TEST
EQUITY
RELIABILITY
CONSERVATISM
IRREVOCABLE CONTRACT
LIABILITIES
EXPENSE
ACCRUAL BASIS OF ACCOUNTING
ASSETS
OBJECTIVITY OF FINANCIAL REPORTING
DEPRECIATION EXPENSE
GOODWILL
UNREALISED GAIN
REVENUES
UNREALISED LOSS

Solution Summary

In a sentence or two, the response explains each accounting term.

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