Examlex
Identify the three core values of IBM.
Services
Economic activities offered by one party to another, often involving professional support or advice rather than a tangible product.
Incurred
Refers to costs or expenses that have been consumed or utilized in the process of generating revenue.
Accrual-Basis Accounting
A bookkeeping approach that documents income and expenditures at the time they are accrued, irrespective of the actual cash transaction timing.
Revenue Recognition Principle
The Revenue Recognition Principle is an accounting guideline that determines the specific conditions under which revenue is recognized or accounted for.
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