Examlex
Match the following terms or phrases with the correct description or definition.
-Bacteriology
Faithful Representation
A qualitative characteristic of financial information that ensures the information depicts the economic phenomenon it intends to represent, without error or bias.
Fair Value
The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants.
Going Concern
The assumption that a company will continue in operation for the foreseeable future.
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