Explain the Guidelines That Should Be Kept in Mind While

question 12

Essay

Explain the guidelines that should be kept in mind while creating folders to organize files.

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Definitions:

Income Statement Method

An accounting methodology used for calculating income and expenses to determine a company's net profit or loss over a specific period.

Tangible Assets

Assets owned by a business that can be seen and examined.

Intangible Assets

Assets that have value to a business but are not visible.

Long-Term Equity

Investments in stocks or other equity instruments that are intended to be held for a period longer than one year for potential appreciation in value.