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Capital Injection Explained

When an individual decides to start an entity, he or she will have to bring in funds, and these fun…

Consistency convention explained

The convention of consistency guides preparers from using different financial assumptions, methods,…

Periodicity concept explained

Businesses are expected to continue for a long time. However, for accounting purposes, it is necess…

Realization Concept Explained

The realization concept is the basis on which revenue and other income are recognized in the financ…

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