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1) The accounting principle that encourages the accrual basis of accounting.
2) Amount before income tax expense.
3) A change in an accounting ________________ is reported only in the current and future periods' income statement. For example, a change in the useful life of an asset being depreciated.
4) Results when a long-term asset is sold for less than its book value.
5) Interest expense is an example of this type of expense.
6) Results when a long-term asset is sold for more than its book value.
7) Selling, General & Administrative expenses are also referred to as _______________ expenses.
8) A year other than a calendar year.
9) Organization that establishes the accounting rules. (acronym)
10) The cost of goods available minus ____________inventory equals the cost of goods sold.
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