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____ Is When New Information Is Altered to Fit an Existing

question 234

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____ is when new information is altered to fit an existing scheme,whereas ____ is when a scheme is changed to adapt to new information.


Definitions:

Owner Withdraws

Transactions where business owners take funds or assets out of the business for personal use, also known as drawings.

Personal Use

Utilization of a company or business asset for individual, non-business related activities or benefits.

Drawings

Withdrawals of cash or other assets from a privately-owned business by the owner(s) for personal use.

Liabilities

Financial obligations or debts that a company owes to others, which must be settled over time through the transfer of economic benefits.

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