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The life of a business can be divided into artificial segments of time
Business entity
Accounting Period
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Business entity
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Going Concern
Going Concern
Accounting Period
The accounting firm prepares an audit every year to make sure the records are accurate.
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Accounting Period
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Going Concern
Going Concern
Accounting Period
Belief that a company will continue to operate for the forseeable future.
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Accounting Period
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Business entity
Going Concern
Going Concern
Accounting Period
Personal transactions are not mixed with the company's transactions.
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Accounting Period
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Business entity
Going Concern
Going Concern
Accounting Period
Indicates that personal and business record-keeping should be separately maintained.
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Accounting Period
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Going Concern
Going Concern
Accounting Period
Business shows a 4% profit for the last three years.
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Accounting Period
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Going Concern
Going Concern
Accounting Period
Tracing accounting events to particular companies.
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Accounting Period
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Going Concern
Going Concern
Accounting Period
Business uses a fiscal calendar for their business.
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Accounting Period
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Going Concern
Going Concern
Accounting Period
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