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Within days of their baby's birth, Ben and Jen are having an argument about their son. Jen claims that he recognizes her voice, but Ben says that this is impossible. Knowing the research in this area, you are able to tell them that
Accounting Information
Financial data and records about an organization's transactions, used for reporting, analysis, and decision-making purposes.
Consistency
In accounting, the principle that requires the same accounting methods to be used from period to period for comparability.
Accounting Principles
The rules and guidelines that companies must follow when reporting financial data.
Cash Basis
A financial recording strategy where incomes and costs are documented at the time they are actually exchanged, instead of the moment they are accrued.
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