Examlex
Match each description with the item below.
-Gerald Ford
FASB
The Financial Accounting Standards Board, an independent organization responsible for establishing accounting and financial reporting standards for companies and non-profit organizations in the United States.
Aspirational Firm
A concept in business and finance referring to a company that sets ambitious goals and seeks to innovate and grow rapidly.
LIFO
Last In, First Out, an accounting method used to value inventory that assumes the most recently produced items are the first to be sold.
FIFO
First-In, First-Out, an accounting method where the oldest inventory items are recorded as sold first.
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