Examlex
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Operating Segment
A component of a business that engages in business activities from which it may earn revenues and incur expenses, and for which discrete financial information is available.
Asset Group
A collection of assets that share similar characteristics and are accounted for together in financial reporting.
Production Phase
The production phase is the period in a business cycle when raw materials are converted into finished products.
Revenue Recognition
The principle in accounting that outlines the exact situations in which revenue is to be acknowledged and accounted for.
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