Examlex
In Association of Private Sector Colleges and Universities v.Duncan and the U.S.Department of Education,the Department of Education published final rules as originally proposed but included an additional final rule with new regulatory requirements for colleges offering distance learning.When the final rules were challenged on the basis that the Department failed to provide adequate notice of the new rule,what did the court hold?
Economic Entity Assumption
An accounting principle that treats a company as a separate entity from its owners or shareholders for financial reporting purposes.
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.
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