Examlex
The DSM-IV criteria for intellectual disability are an IQ of approximately
Liabilities
Financial obligations or debts that an entity owes to others, which must be settled over time through the transfer of economic benefits.
Expenses Paid
Refers to the amounts of money disbursed to cover operating costs or charges incurred in the conduct of a business.
Expense Recognition Principle
An accounting principle that expenses should be recognized in the period in which they are incurred, matching them with the revenues they help to generate.
Time Period Assumption
An accounting principle that allows an organization to divide its economic activities into specific time periods such as months, quarters, or years for reporting purposes.
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