State the Accounting Term That Applies to Each of the Following

question 40

Essay

State the accounting term that applies to each of the following definitions.
$$\begin{array} { | l | l | } \hline \text { Definition } & \text { Accounting Term } \\\hline \text { Businesses should use the same } & \\\text { accounting methods from period to } & \\\text { period. } & \\\hline \text { Treats the oldest inventory purchases } & \\\text { as the first units sold. } & \\\hline \text { Principle whose foundation is to } & \\\text { exercise caution in reporting financial } & \\\text { information. } & \\\hline \text { Treats the most recent/newest } & \\\text { purchases as cost of goods sold. } & \\\hline\end{array}$$

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Definitions:

Heart

A muscular organ in most animals, which pumps blood through the circulatory system by rhythmic contraction and dilation.

Brachial Artery

A major blood vessel of the upper arm that supplies blood to the arm and hand.

Blood Pressure

The force exerted by circulating blood upon the walls of blood vessels, typically measured in the arteries.

Ulnar Artery

A major artery of the forearm that supplies blood to the flexor muscles of the hand and medial aspect of the forearm.