(TCO A) Listed below are several information, characteristics, and accounting pr

Question

(TCO A) Listed below are several information, characteristics, and accounting principles and assumptions. Match the term with the appropriate phrase that states its application. (Points : 30) Potential Matches: 1 : Accruals and deferrals in adjusting and closing process 2 : Earnings process completed and realized or realizable 3 : The impact of an item on the overall financial operations of a company 4 : Notes as part of necessary information to a fair presentation 5 : Business enterprise assumed to have a long life 6 : Cost of providing financial information versus the benefits derived from its use 7 : Valuing assets at amount originally paid for them 8 : Stable dollar assumption 9 : Presentation of error-free information with representational faithfulness Answer : Going concern principle : Revenue recognition principle : Materiality constraint : Historical cost principle : Monetary unit : Reliability characteristic : Matching principle : Cost-benefit relationship : Full disclosure principle

Explanation / Answer

(TCO A) Listed below are several information, characteristics, and accounting pr

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