"Value Added" by Definition Is Always a Positive Number Since

question 35

True/False

"Value added" by definition is always a positive number since "added" implies increases.

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Definitions:

GAAP

Generally Accepted Accounting Principles, the standard framework of guidelines for financial accounting used in any given jurisdiction.

Completed Contract Method

An accounting technique used to defer all revenue, expense, and profit recognition until a contract is completed.

Accounting

The systematic recording, reporting, and analysis of financial transactions of a business.

Installment Sales

A sales method allowing customers to make payments over a period of time until the full price is paid.