In a Few Sentences, Identify the Two Desirable Characteristics of a Good

question 27

Essay

In a few sentences, identify the two desirable characteristics of a good estimator, andexplain what makes them desirable characteristics.

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Definitions:

Reported Loss

Financial results showing that a company's expenses exceeded its revenues during a specific period, leading to a negative net income.

Internal Accounting Records

A collection of documents and ledgers used by a business to track financial transactions, assets, liabilities, and equity.

Equity Method

An approach to account for equity investments by adjusting the investment's value to mirror changes in the investee's net assets.

Accumulated Depreciation

The total amount of depreciation that has been recorded up to a specific point in time, reflecting the wear and tear on tangible assets over their useful lives.