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Automatic processing most clearly occurs without
Time Period Assumption
An accounting principle that states a business's activities can be divided into specific time periods, such as months, quarters, or years for reporting purposes.
Securities and Exchange Commission
An independent federal agency responsible for protecting investors, maintaining fair and orderly functioning of the securities markets, and facilitating capital formation.
IASB
stands for the International Accounting Standards Board, which is an independent, private-sector body that develops and approves International Financial Reporting Standards (IFRS).
Measurement (Cost) Principle
An accounting principle that states that accounting information should be based on actual cost.
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