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Accounting Principle
A rule or guideline that governs the financial reporting and accounting practices of a business.
Purchaser's Books
Records maintained by the buyer detailing purchases, expenses, and payables, essential for managing and tracking financial transactions.
Parcel of Land
A defined piece of land, identified for legal or development purposes, that can be owned, sold, or developed.
Accounting Equation
The fundamental equation of accounting stating that assets equal liabilities plus equity (Assets = Liabilities + Equity).
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