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Bronson Co's accounting department is implementing a new general ledger software package. The system provides definitions that enable it to automatically segregate between current and

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Bronson Co's accounting department is implementing a new general ledger software package. The system provides definitions that enable it to automatically segregate between current and noncurrent assets. The company has no clearly defined operating cycle. Which section of the authoritative guidance should Bronson use to determine the appropriate time period to use as a basis for classifying current assets? Enter your response in the answer fields below. Unless specifically requested, your response should not cite implementation guidance

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