Examlex
Listed below are 5 terms followed by a list of phrases that describe or characterize the terms.Match each phrase with the correct term.
Income Manipulation
The act of altering financial statements to present a misleading view of a company's financial health or performance.
Accounting Principles
Rules and guidelines that companies must follow when reporting financial data.
LIFO for Tax
Last In, First Out method for tax purposes, an inventory valuation method where the latest items added to inventory are considered sold first, impacting taxation.
Legal Title
The recognized legal ownership of property or assets, which includes the rights to use, sell, or transfer the property.
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