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Accounting Principle
Fundamental concepts or guidelines that govern the field of accounting and instruct how financial transactions should be recorded and reported.
Accounting Estimate
An approximation of a financial amount in the absence of precise data or measurements.
Reporting Entity
A business or organization that is required to prepare financial statements.
Operating Activity
Activities that constitute the primary or main activities of an entity, including cash flows related to sales, expenses, and other core business operations.
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