ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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ACCOUNTING ENTITY ASSUMPTION Definition
ACCOUNTING ENTITY ASSUMPTION states that a business is a separate legal entity from the owner. In the accounts the business' monetary transactions are recorded only.
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OBSERVE / OBSERVATION is to watch and test a client action, e.g., taking inventory.
YIELD VARIANCE is the effect of varying the total input of a factor of production; e.g., direct materials or labor; while holding constant the input mix, i.e. the proportions of the types of materials or labor utilized, and the weighted average unit price of the factor of production.
