Part II Match the correct term or phrase from column 'B' to column 'A'.
(0.5 point each)
A
1. Work in process inventory
2. Last-in-first-out (LIFO)
3. Gross Profit Method
4. Amortization
5. FOB shipping point
6. Pension contribution
7. Adequate disclosure principle
8. Dissolution of partnership
9. Preferred stock
10.pre emptive right
B
A) Intangible Assets
B) Earnings from selling of items after deducting their cost
C) The most recent purchases are sold first
D) ownership title passes to the buyer when the goods are shipped
E) Cost assigned to good and materials on hand but not yet placed into production
F) Tangible Assets
G) Change in the accounting methods
H) Priority claim on dividend, cumulative dividend and no voting power
I) Existing stockholders has the right to purchase shares of the corporation
J) Employer and Employee are expected to contributed
K) Change in the organizational association of partners or death of partner
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