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The Ecological Model was originally proposed by
Qualitative Characteristics
Attributes that make the information provided in financial statements useful to users, such as relevance and reliability.
Understandability
A principle in accounting that financial information should be presented in a clear and concise manner, making it easily understandable by users.
Recognition
The process of recording an accounting transaction or event in the financial statements once it meets the criteria for financial reporting.
Fixed-Price Construction Contracts
Construction contracts where the contractor agrees to a set price for the contracted work, regardless of the actual costs incurred.
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