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Revenue Recognition
The accounting principle that dictates how and when revenue is acknowledged in the financial statements, typically when it is earned and realizable.
Goods Or Services
Products or activities offered by a business to meet the needs or wants of customers, often classified as tangible or intangible respectively.
Customers
Individuals or entities that purchase goods or services from a business.
Operating Activity
Day-to-day actions and transactions that are directly related to running a business, such as sales and purchases.
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