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The Concept of a Performance Scale

question 35

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The concept of a Performance Scale


Definitions:

Business Events

Occurrences that affect the financial position of a company and can be measured reliably in financial terms.

Recorded

The process of recording business financial transactions into the accounting books.

Accrued Revenues

Revenues for services performed but not yet received in cash or recorded.

Received

Typically refers to the acknowledgement of having gotten something, such as goods or payments, within a business context.

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