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As a firm attempts to expand production, it must ___________ he wage it pays to attract additional help. This leads to __________ costs, making the long-run supply curve slope ___________.
Realizability
The ability or likelihood of an asset to be converted into cash or an asset expected to bring cash inflows through revenue.
Accrual Accounting
An accounting method that records revenues and expenses when they are earned or incurred, regardless of when cash transactions occur.
Revenue Recognition
The accounting principle that dictates the specific conditions under which revenue is recognized and recorded, typically when the earning process is judged to be complete and the revenue is measurable.
Period Of Sale
The time frame during which a sale transaction is completed, from the offer to the transfer of ownership.
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