Accounting principle: These are the guidelines which are to be applied while preparing the accounting books through financial data. It contains the suggestions and rules which have been applied at various points by various entities in order to provide standardized accepted rule-based financial information. To explain: The accounting information.

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Chapter 3, Problem 3.22E

(a)

To determine

Accounting principle: These are the guidelines which are to be applied while preparing the accounting books through financial data. It contains the suggestions and rules which have been applied at various points by various entities in order to provide standardized accepted rule-based financial information.

To explain: The accounting information.

(b)

To determine

To describe: The suggestions provided by Person G are useful in the appliance of the accounting guidelines which requires some qualitative characteristics in the financial information.

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