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...The early of complete book-keeping is the duality and equilibrium which
derive from early record-keeping precedents, the substance consists of
proprietary calculation of the gains (or losses) from ventured capital.
...If either property or capital were not present, there would be nothing for
records to record. Without money, trade would be barter; without credit,
each transaction would be closed at the time; without commerce, the need
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Accounting practice is a means of resolving social conflict, a device for
appraising the term of exchange between social constituencies, and an
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