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Between a trough and a peak, the economy goes through a(n)
Generally Accepted Accounting Principles
A set of widely adhered to accounting principles and standards used in financial reporting.
Fair Value Accounting
An accounting approach where assets and liabilities are recorded at their current market value.
Assets and Liabilities
The resources owned by a company (assets) that provide future economic benefits and the obligations (liabilities) it owes to other entities.
Temporary Investments
Investments not intended to be held for long periods, often used to earn a return on idle cash.
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