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Without random sampling, which of the following can happen?
Non-Cash Items
Expenses charged against revenues that do not directly affect cash flow, such as depreciation.
Generally Accepted Accounting Principles (GAAP)
A framework for a common set of principles, rules, and procedures of accounting.
Historical Cost
The original monetary value of an asset or transaction, based on the actual amount paid or incurred at the time of acquisition, without adjusting for inflation or changes in market value.
Carrying Value
The book value of assets and liabilities as represented on the balance sheet, considering factors like depreciation or amortization.
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