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When Bob first started his moving company, he noticed a significant amount of miles being put on the vehicles. He also noticed that drivers were submitting an excessive amount of reimbursement receipts for gas. He also heard rumors that employees were using the company vehicles to do side jobs and were getting paid under the table. Bob put tracking devices on the fleet of vehicles and began requiring employees to utilize a company gas card instead of submitting gas expense reports. Bob's actions are ______.
Contracts
Legally binding agreements between two or more parties that outline terms, conditions, and obligations of each party.
Conceptual Framework
A theoretical structure that outlines the objectives and fundamentals of financial reporting to guide the development of accounting standards.
Income
Increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.
Gains
Increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases in liabilities that result in increases in equity, other than those related to contributions from equity participants.
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