Examlex
During the resistance phase of the general adaptation syndrome (GAS) ,
Previous GAAP
The Generally Accepted Accounting Principles that were in place before the current set or version was adopted.
Recognize Assets
The process of recording an item in the financial statements as an asset, acknowledging its probable future economic benefits.
Derecognize
The removal of an asset or liability from a company's financial statements, often due to it being sold, fully depreciated, or disposed of.
Reclassify Items
The process of moving accounting entries from one ledger or category to another to correct or clarify financial statements during the preparation process.
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