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Principal Elements
Pertains to the fundamental components or ingredients necessary for a system or structure to function.
Ethical Situation
A scenario or circumstance that requires individuals or organizations to choose between alternatives that must be evaluated as right or wrong.
Historical Cost Principle
An accounting principle that states assets should be recorded and reported at their original purchase cost and not adjusted for changes in market value.
Appraisal Value
The assessed value of an asset, typically real estate or a business, determined by a professional appraiser based on the property's condition, market trend, and comparable sales.
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