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Define the concept and provide a real world example.

Define the concept and provide a real world example. (Chapters 1 through 10) for a total of 20 concepts.

CH1
-Generally Accepted Accounting Principle
– Double Entry

CH 2
-Materiality
-Entity

CH3
-Compound Entry
-General Ledger T-Account

CH 4
-Accrual Accounting
-Conservatism

CH5
-The Direct Method
-Indirect Method

CH6
-Allowance Method
-Specific Write Off Method

CH7
-(FIFO) First in, First Out
-(LIFO) Last In, Last Out

CH 8
-Straight Line Deprecation
-Double Declining

CH 9
-Compound Interest
– Implicit Interest Rate 

CH 10
-Stock Options
-Stock Splits

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