Explain the Two Types of Gift,or Stored Value,cards

question 8

Essay

Explain the two types of gift,or stored value,cards.

---

Definitions:

Financial Reporting

The process of producing statements that disclose an organization's financial status to management, investors, and the government.

Inventory Cost Flow Assumption

A method used in accounting to determine the cost of goods sold and ending inventory value, examples include FIFO, LIFO, and average cost methods.