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During 20x5,Oates Company had sales of $500,000,net income of $50,000,average total assets of $700,000,dividend payments of $35,000,net cash flows from operating activities of $90,000,purchases of plant assets of $75,000,and sales of plant assets of $90,000.Cash flows to sales equals (Round amounts to one decimal place)
Expense Recognition Principle
An accounting principle that matches expenses with revenues in the period in which they're incurred to produce those revenues.
Service
The action of helping or doing work for someone, often refers to non-tangible products offered by businesses.
T-account
The basic form of an account.
Constructed
Refers to anything that has been built or formed, usually pertaining to buildings, infrastructure, or other physical structures.
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