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An agent acts for a(n) __________ principal when the agent appears to be acting on her own behalf and the third person with whom she is dealing has no knowledge that she is an agent.
Prior Period Adjustment
Adjustments made to the financial statements to correct errors or inaccuracies from previous periods.
Residual Value
The estimated salvage value an asset will have at the end of its useful life.
Manufacturing Equipment
Machinery and tools that are used in the process of producing goods in a manufacturing facility.
Salvage Value
Salvage Value is the estimated residual value of an asset at the end of its useful life, expected to be recovered once the asset is no longer useful in operations.
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