Examlex
The higher the concentration of solutes in the urine, the lower the specific gravity.
Recognizes Revenues
The process of recording revenue in the financial statements when it is earned and realizable, in accordance with the revenue recognition principle.
Expense Recognition Principle
Accounting principle that dictates expenses should be recognized in the period in which they are incurred to generate revenues.
Accounting Period
This is a specific duration of time for which financial statements are prepared to understand and evaluate a company's financial performance.
Earned
Refers to income or revenue that a company has generated from its operations or business activities.
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