Examlex
Johnson's Reconstruction plan:
Economic Events
Transactions and occurrences that have a direct impact on the financial position and performance of a company, including both internal and external activities.
Sole Proprietorship
A business structure where an individual owns the company and is personally responsible for its debts.
Relevant Accounting Information
Information that is capable of making a difference in the decision-making process by being timely and having predictive and/or feedback value.
Operating Cycle
The period of time it takes for a company to purchase inventory, sell products, and collect cash from customers.
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