ACCT 203 Lecture 12: Final exam chap1 list
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Related Questions
Listed below are several information, characteristics, andaccounting principles and assumptions. Match the term with theappropriate phrase that states its application.
(Points : 30)
Potential Matches: |
1 : Application of the same accounting principles as in thepreceding year |
2 : Earning process completed and realized or realizable |
3 : Notes as part of necessary information to a fairpresentation |
4 : Valuing assets at amounts originally paid for them |
5 : Yearly financial reports |
6 : Stable dollar assumption |
7 : Affairs of the business distinguished from those of itsowners |
8 : Presentation of error-free information withrepresentational faithfulness |
9 : Business enterprise assumed to have a long life |
10 : Accruals and deferrals in adjusting and closingprocess |
Answer |
: Monetary unit assumption |
: Revenue recognition principle |
: Reliability characteristic |
: Periodicity assumption |
: Matching principle |
: Full disclosure principle |
: Economic entity assumption |
: Going concern assumption |
: Historical cost principle |
: Consistency characteristic |