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-Refer to the above production possibilities curves.Curve (a) is the current curve for the economy.The movement from curve (a) to curve (b) suggests:
Flexibility
The ability of a company or system to adapt to changes or new requirements.
Accounting Information
Financial data and records about an organization's transactions, used for reporting, analysis, and decision-making purposes.
Consistency
In accounting, the principle that requires the same accounting methods to be used from period to period for comparability.
Accounting Principles
The rules and guidelines that companies must follow when reporting financial data.
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