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What is the first component in the education-to-practice process, according to the Institute of Medicine recommendations for healthcare professions education?
Full Disclosure Principle
A financial reporting guideline requiring companies to disclose all relevant and necessary information in their financial statements and footnotes to help users make well-informed decisions.
Financial Statements
Official documentation reflecting the monetary transactions and status of a company, individual, or different entity.
Accounting Equation
A fundamental principle of accounting that maintains that assets are always equal to the sum of liabilities plus equity (Assets = Liabilities + Equity).
Accounting Equation
The accounting equation represents the relationship between a company's assets, liabilities, and equity, illustrating that assets are funded by borrowing (liabilities) or investing (equity).
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