ACCOUNTING RESEARCH BULLETINS (ARBs) were issued years ago to set generally
accepted accounting principles. Some have not been superseded by pronouncements of the Financial Accounting Standards Board. Those old pronouncements still qualify as generally accepted accounting principles.
OPERATING EXPENDITURES is the amount used during a particular period directly in support of day-to-day operations such as wages, maintenance, office supplies, etc.
ASSET STRIPPING is buying a business and then realizing a profit by selling off the assets separately.
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