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Which of the following was an important step toward a new China and signaled a move away from Confucianism?
Historical Cost
An accounting principle requiring assets to be recorded at their original cost at the time of purchase, without adjustments for inflation or market value changes.
Financial Statements
Structured representations of the financial performance and financial position of an entity, providing detailed information about its income, expenses, assets, liabilities, and equity.
Independent Evaluation
An assessment conducted by a party outside of the project or program team to ensure objectivity and impartiality.
Material
In financial and accounting contexts, refers to information or an item that could influence the decision-making process of users of financial statements.
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