MATCHING Match Each Description with the Item Below

question 13

Multiple Choice

MATCHING
Match each description with the item below.
-George Grenville

• A)was a British general in the French and Indian War
• B)surrendered Fort Necessity to French
• C)wrote Common Sense
• D)architect of the Albany Plan of Union
• E)warned citizens of Lexington of a British military advance
• F)wrote Two Treatises on Government
• G)was a British war minister during the French and Indian War
• H)organized the Sons of Liberty
• I)proposed the Stamp Act
• J)was the governor of the Dominion of New England

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Definitions:

Rising Prices

A scenario in which the overall price level of goods and services within an economy rises over a certain period.

Ending Inventory

Ending Inventory refers to the total value of goods available for sale at the end of an accounting period, calculated as the sum of beginning inventory plus purchases minus cost of goods sold.

LIFO Method

"Last In, First Out" an inventory costing method that assumes the most recently purchased items are sold first, affecting the cost of goods sold and ending inventory valuations.

Increasing Prices

A situation where the cost of goods or services rises over a period of time, often due to factors like inflation or increased demand.