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Counting Coins and Cracking Codes: An Accounting Terms Quiz

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Created December 28, 2025

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What is the term for the net profit remaining after deducting all operating expenses, taxes, and interest? Which accounting term refers to the allocation of the cost of a tangible asset over its useful life? In accounting, what is known as the systematic recording of financial transactions of a business? What is the accounting principle that revenue and expenses are recognized when they are incurred, regardless of when cash is exchanged?

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