A(n)____________________ Is a Holistic,visual Way to Record Information on a Topic

question 30

Short Answer

A(n)____________________ is a holistic,visual way to record information on a topic.

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Definitions:

GAAP

Generally Accepted Accounting Principles (GAAP) are a framework of accounting standards, procedures, and rules used by accountants to prepare financial statements in the United States.

Long-lived Assets

Assets that provide economic benefit for more than one accounting period, typically including property, plant, and equipment.

Demolition

The process of tearing down or destroying a building or structure, usually in order to make way for new construction.

Capitalization

The accounting practice of recording a cost/expense as an asset on the balance sheet rather than expensing it immediately.