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All the accounting is done with respect to GAAP (General accepted accounting principles).It is universal accepted principle followed to prepare sheet.If the voting interest does not apply (greater than 50% ownership) the risk-and-reward model is used to see if the company stands to gain in the economies of another company.In Apr 2013. 76 terms. ShalayneMann. ACCT 209. Introduction to accounting and the financial statements.
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