_____ Are an Important Source of Information for Start-Ups

question 83

Multiple Choice

_____ are an important source of information for start-ups.They compile legal information for their members,including laws particularly applicable to certain types of businesses in various jurisdictions and proposals for changing the laws that affect an industry.

• A) Academic journals
• B) Magazines
• C) News channels
• D) Trade associations

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Definitions:

Expense Recognition Principle

A core principle of accrual accounting that dictates when expenses are recognized and reported in the financial statements, generally aligning expenses with the revenues they help to generate.

Income Statement

A financial report detailing a company's revenue, cost of goods sold, gross profit, operating expenses, and net income over a specific period.

Managers

Individuals responsible for planning, directing, and overseeing the operations and fiscal health of a business or organization.

Cash Basis

An accounting method where revenues and expenses are recorded only when cash is received or paid out.