Match the Following Terms with the Appropriate Definition

question 72

Multiple Choice

Match the following terms with the appropriate definition.
-The accounting principle that a company use the same accounting methods period after period so that the financial statements of succeeding periods will be comparable.

• A)Gross profit method
• B)Inventory turnover
• C)Conservatism principle
• D)Consistency concept
• E)Consignor
• F)Consignee
• G)Days' sales in inventory
• H)Retail inventory method
• I)Specific identification method
• J)Lower of cost or market

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Definitions:

Myopia

A vision condition in which people can see close objects clearly, but objects farther away appear blurred, also known as nearsightedness.

Hyperopia

A visual condition in which distant objects are seen more clearly than those that are near, often referred to as farsightedness.

Old Eyes

A colloquial term referring to age-related changes in vision, typically presbyopia or decreased visual acuity.

Myopia

A vision condition characterized by difficulty seeing distant objects clearly, commonly referred to as nearsightedness.