Examlex
Match each description with the item below.
-Chester Arthur
Accounting Information System
A structure that collects, stores, manages, processes, retrieves, and reports financial data for its users, facilitating informed business decisions.
Financial Accounting
The process of recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time, in order to produce financial statements.
LIFO
Last In, First Out, an inventory valuation method where the most recently produced items are recorded as sold first.
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