What Is the Difference Between a Major Mineral and a Trace

question 60

Essay

What is the difference between a major mineral and a trace mineral?

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Definitions:

Business Entity Concept

An accounting principle that treats a business as separate from its owners, requiring separate recording of business transactions.

Cost Concept

An accounting principle that states assets and services should be recorded and based on their original cost at the time of acquisition.

Unit of Measure Concept

An accounting principle that states transactions should be recorded in a single, consistent currency unit for accuracy and comparability.

Objectivity Concept

A concept of accounting that requires accounting records and the data reported in financial statements to be based on objective evidence.