Write the Word or Phrase That Best Completes Each Statement

question 42

Essay

Write the word or phrase that best completes each statement or answers the question.
-Explain why, when one number is a factor of another, the least common denominator of the numbers is the larger number.

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Definitions:

Disposal

The act of getting rid of an asset through sale, exchange, retirement, or destruction.

Accounting Equation

The fundamental principle of double-entry bookkeeping: Assets = Liabilities + Equity, depicting the relationship between a company's resources and claims on those resources.

Historical Cost Principle

An accounting principle that states assets should be recorded and reported at their original purchase cost.

Cash-Equivalent Value

The value of an asset that is easily convertible into a known amount of cash with minimal risk of change in value.