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How would you perform a visual inspection of a shock absorber?
Gain on Sale
Profit realized from the sale of assets or investments when the selling price exceeds the book value.
Net Income
The total profit of a company after all expenses, including taxes and operating costs, have been subtracted from total revenues.
IFRS
International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board that is becoming the global standard for the preparation of public company financial statements.
GAAP
Generally Accepted Accounting Principles, the standard framework of guidelines for financial accounting used in the United States.
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