Fundamental Principles Of Accounting



distinct = different partnership = a business or firm owned and run by two or more partners sole proprietorship = a business or firm owned and run by only one person corporation = a large company or group of companies that is controlled together as a single organization verifiable = it can be checked and proved accurate = correct in all details unbiased = showing no prejudice for or against something withheld = removed back relevance = how important or useful something is to a situation disclosure = giving people new or secret information