CONSORTIUM Definition

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CONSORTIUM is an association of companies for some definite purpose.

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SOP is Statements of Position (within the AICPA or FASB) or Standard Operating Procedure.

INCOME THEORIES try to identify the real profit of an organization. The difficulty here is that you need to define whose income you are measuring, and that limiting income measurements to things that can be given a price devalues goods and services that are difficult or impossible to price.

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