GOLDEN RULES OF ACCOUNTING Definition

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GOLDEN RULES OF ACCOUNTING are: 1. Debits ALWAYS EQUAL Credits; 2. Increases DO NOT NECESSARILY EQUAL Decreases; and, 3. Assets - Liabilities = Owners Equity (The Accounting Equation).

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FORCED LIQUIDATION VALUE is the value at which the asset or assets are sold as quickly as possible, such as at auction.

TIME SERIES is an ordered sequence of values of a variable at equally spaced time intervals.

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