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Select the words that correctly complete the statements below. a. Standards are applications of art to differing types of transactions b. are specific implementation procedures.

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Select the words that correctly complete the statements below. a. Standards are applications of art to differing types of transactions b. are specific implementation procedures. is to establish objectives and fundamental concepts that are the basis for development of financial accounting and C. The intent of reporting guidance. d. are the methods and practices that U.S. companies are required to use in preparing and reporting accounting information in financial statements used by external stakeholders. e. Statement of Financial Accounting Concepts No. 8 describes the relationship between and decision-useful information. f. is the ultimate objective of accounting information. g. The fundamental characteristics of decision-useful information are and h. Information is relevant if it has and and Accounting information is a faithful representation of the underlying situation if it has I. j. Enhancing characteristics include and

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