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I know we might move sooner than that, but it was cheaper this way. Accounting is an information system based on generally accepted accounting principles. Please circle the letter corresponding to your answer Mar 26, 2023 · This concept is followed in all types of businesses. -creates an early warning. Implementing an ABC system requires only a careful calculation of total direct labor hours. This accounting principle states that only business transactions that are quantifiable & can be expressed in the terms of a monetary unit can be recorded on the financial statements. Financial statements. Losses from unprofitable operation of business. At Quizlet, we’re giving you the tools you need to take on any subject without having to carry around solutions manuals or printing out PDFs! Now, with expert-verified solutions from Accounting Principles 13th Edition, you’ll learn how to solve your toughest homework problems. 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