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Accounting - Introduction - Understanding accounting terminology

Understanding accounting terminology

Students in accounting should be familiar and competent in dealing with
conceptual terms.

On the pages that follow examples are given of when students might use the
different types of activities.

Terms have different meanings. For instance, the word 'list' in any
activity, test or exam, would require only a simple statement. On the other
hand the word 'explain' seeks a statement supported by an elaboration
saying why, an example or an illustration.

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