Define accounting and financial terms, Financial Management

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What do you understand by financial viability of the organization?

2: Define Following accounting and financial terms:

Asset
Liability
Equity
Income
Expense
Pay as you go (PAYG)
Goods and services tax (GST)
Fringe benefit tax
Business activity statement (BAS)
Superannuation guarantee scheme
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3: Explain following relevant Australian, international and local legislation and conventions, such as:

Bilateral or regional trade agreements
International Commercial Terms (INCOTERMS)
Trade Practices Act
Warsaw Convention
World Trade Organization determinations
Australian Accounting Standard Board (AASB)

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