Chapter represents the allocated portion of property and equipment over an account title for cash that is received but services has to be it is a career opportunity for an accountant to work in the government service like that of Commission on Audit, Bureau of Internal Revenue, Bureau of it is a career opportunity for an accountant to practice in the field of accounting whereby he renders an opinion regarding the fairness in the presentation it is a new type of accounting information wherein its primary 36 15. the number of years. 16. rendered yet. 17. Treasury, etc. 18. of financial statements he critically examines. 19. concern is to set-up financial planning objective including the sources and applications of it resources beneficial to the economic entity. 20. it is a type of accounting information that the accountants deait with a challenge in structuring of business transactions to minimize the income tax burden 21. it is an accounting principle that draws controversy by sacrificing reliability and verifiability in favor of fair value measurement. 22. it is an accounting principle that requires accounting methods and procedures should be applied on a uniform basis from period to period to achieve comparability in the financial statements. 23. it is an accounting assumption that considers business as an entity that is separate and distinct from the owner. 24. it is an accounting assumption which explains why financial statements are communicated to the users periodically