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Business, 12.02.2022 06:40 fixianstewart

The cost-benefit constraint: Multiple Choice Means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold. Prescribes that a company record the expenses it incurred to generate the revenue reported. Says that information disclosed by an entity must have benefits to the user that are greater than the costs of providing it. Provides guidance on when a company must recognize revenue. Prescribes that accounting information is based on actual cost.

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