Examlex
The two-party system of the United States is unique.What explanations do the authors offer for why additional parties have not managed to emerge in significant and long lasting ways?
Income Recognition
The accounting principle that income should be recognized in the accounting period in which it is earned, irrespective of when the cash is received.
Initial Impairment Assessment
The first step in evaluating whether an asset's carrying amount exceeds its recoverable amount, indicating a potential impairment loss.
Intangible Asset
An asset that lacks physical substance but is identifiable and provides economic benefits to the owner, such as patents, trademarks, and copyrights.
Internal Recordkeeping
The process of maintaining all company records, including financial documents, employee information, and operational logs, primarily for internal use.
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