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What role does the budgeting activity play in managerial compensation and performance evaluation?
Liability
A financial obligation or debt that an entity is required to pay to another entity.
Change In Accounting Principle
An adjustment in the way a company recognizes, measures, presents, or discloses financial information due to a change in accounting policy.
Continuing Operations
The parts of a business expected to continue operating in the foreseeable future, as opposed to segments being discontinued or sold.
Newly Adopted Principle
A recently implemented accounting guideline that a company starts following, which can affect its financial reporting.
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