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Four-year-old Jasmine is shown two identical tall glasses of water and agrees that they contain the same amount of liquid.When the liquid is poured into a short,wide container,she says that there is more water in the shorter container because it is "all spread out." Jasmine is demonstrating a lack of understanding of __________.
U.S. GAAP
The Generally Accepted Accounting Principles in the United States, a set of accounting rules and standards used for financial reporting.
Major Customer
A client who contributes a significant portion of a company's revenue, often crucial to the company's financial health.
Operating Segments
Components of a business for which separate financial information is available and regularly evaluated by the company's decision-makers in deciding how to allocate resources and assess performance.
Reportable
Anything that must be officially noted and disclosed, often within financial contexts or compliance reporting.
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