financial accounting matching see attached document listed below are several informa 389622

Financial Accounting Matching

See attached document

Listed below are several information characteristics,accountingprinciples, constraints, and assumptions. Match the letter of each with the appropriate phrase that states its application. (Items a through L may be used more than once or not at all.)
a. Economic entity assumption g. Matching principle
b. Going concern assumption h. Full disclosure principle
c. Monetary unit assumption i. Relevance characteristic
d. Periodicity assumption j. Reliability characteristic
e. Historical cost principle k. Consistency characteristic
f. Revenue recognition principle L. Conservatism
____ 1. Stable dollar assumption (do not use historical cost principle).
____ 2. Earning process completed and realized or realizable.
____ 3. Presentation of error free information with representational faithfulness.
____ 4. Yearly financial reports.
____ 5. Accruals and deferrals in adjusting and closing process. (Do not use going concern.)
____ 6. Useful standard measuring unit forbusinesstransactions.
____ 7. Notes as part of necessary information to a fair presentation.
____ 8. Affairs of thebusinessdistinguished from those of its owners.
____ 9.Businessenterprise assumed to have a long life.
____ 10. Valuing assets at amounts originally paid for them.
____ 11. Application of the sameaccountingprinciples as in the preceding year.
____ 12. Summarizing significantaccountingpolicies.
____ 13. Presentation of timely information with predictive and feedback value.
___ 14. Using the lower of cost or market approach in valuing inventories.
___ 15. Recording a transaction when goods or services are exchanged for cash or claims to cash.