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  • 106 terms

    Term:

    The primary function of financial accounting is to provide relevant financial information to parties external to business enterprises True or False?

    Definition:

    True

    • ACC 310 - Test #1 (WINTER 2014)
    • 106 terms
    • Vocabulary for ACC 310 - Test #1 (WINTER 2014). Find, create, and access Balance Sheet, Income Statement, flashcards with Course Hero.
  • 15 terms

    Term:

    Under the realization principle, revenue should not be recognized until the earnings process is deemed virtually complete and: a. Revenue is realized b. Any receivable is collected c. Collection is reasonably certain d. Collection is absolutely assured

    Definition:

    c. Collection is reasonably certain

    • ACC 310 - Exam #2
    • 15 terms
    • Vocabulary for ACC 310 - Exam #2. Find, create, and access Revenue, seller, flashcards with Course Hero.

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