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Which type of brand name does not reflect the company's goods or services?
Consistency Principle
An accounting standard that mandates entities to apply the same accounting methods and practices from period to period.
Expense Recognition Principle
This principle dictates that expenses should be recognized in the accounting period when they are incurred, not necessarily when they are paid, matching expenses to the revenues they help generate.
Physical Flow Assumption
An accounting method that tracks the physical movement of goods in inventory, often used to calculate cost of goods sold or ending inventory.
Specific Identification
Specific Identification is an inventory valuation method that tracks the actual cost of each specific item in inventory.
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