The Various Methods,rules,practices,and Other Procedures That Have Evolved Over Time

question 7

Short Answer

The various methods,rules,practices,and other procedures that have evolved over time in response to the need to regulate the preparation of financial statements are called __________________________________________________.

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Definitions:

Data

Factual information used as a basis for reasoning, discussion, or calculation, often numeric in form.

Model

A simplified representation or framework used to describe or simulate complex systems or phenomena.

Average Longevity

The average duration of life of a person or organism, often calculated within a specific population or species.

Gestation

The period of time between the conception and birth of an organism, often referring to pregnancy in humans.