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Accounting principles

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ACCOUNTING PRINCIPLES see GENERALLY ACCEPTED ACCOUNTING PRINCIPLES.


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    , accounts payable (ap) are trade accounts of businesses representing obligations to pay for goods and service received.
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    , accounts receivable is a current asset representing money due for services performed or merchandise sold on credit.
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    , accrued assets are assets from revenues earned but not yet received.
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    , accrued expenses are expenses incurred during an accounting period for which payment is postponed.
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