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Flexibility,creativity,and pragmatism are three keys to:
Retroactive Changes
Adjustments made to records, policies, or financial statements that apply to previous periods.
Loss on Disposal
The financial loss incurred when an asset is sold for less than its book value.
Accumulated Depreciation
The cumulative depreciation of an asset up to a single point in its life, representing how much of the asset's value has been used up.
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