Examlex
Which of the following are elements of causation?
Prior-Period Adjustment
Corrections of errors made in previously published financial statements, not considered ordinary adjustments.
Net Income
The net income a company earns following the subtraction of all expenses and taxes from its total revenue.
Accounting Methods
Accounting methods are the specific principles and procedures implemented by a business or organization to prepare its financial statements.
Rigid Accounting Rules
Accounting practices that are strictly defined with little to no room for interpretation or flexibility in their application.
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