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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STATEMENT OF STOCKHOLDERS EQUITY is a summary of the changes in stockholders equity of a corporation that have occurred during a specific period of time.

TARIFF, AD VAL OREM is a tariff determined as a percentage of the value of the goods.

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