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Matching-3 point each 26. 27. 28. 29. 30. 31. 32. 33. 34. Business entity assumption Expense recognition (matching) principle Full disclosure principle Going concern assumption Materiality constraint Measurement (cost) principle Monetary unit assumption Revenue recognition principle Time period assumption A. States expenses are recorded in the same accounting period as revenues earned because of those expenses. B. Means that accounting information reflects a presumption that the business will continue and not close. C. Prescribes that a company report the details behind financial statements that would impact user decisions. D. Prescribes that assets and services to be recorded initially on a cash or equal-to-cash basis. E. Prescribes that information of significant value would influence the decisions of a reasonable person and Needs to be disclosed. F. Presumes that the life of a company can be divided into periods for reporting purposes. G. The principle that assumes transactions and events can be expressed in money units. H. The principle that requires a business to be accounted for separately from its owner. 1. The principle that revenue is recorded when earned through providing goods or service.

Matehinn -3 soint each 26. Business entily assumption 27 Expense recognition (matching) principle 28 Full disclosure principle 29. Going concem assumption 30. Materiality constraint 31. Measurement (cos) principle 32. Monetary unit assumption 33 Reverne recognition principle 34. Time period assumption A. States expenses are recorded in the same accounting period as rewenues eamed because of those expenses. B. Meens that accounsing information refects a presumption that the business will continve and not close. C. Prescribes that a company report the detals behind financial statements that would impact user decisions. D. Prescribes that assets and services to be recorded initially on a cash or equal-to-cash basls. E. Prescribes that information of significant value would infuence the decisions of a reasonable person and Needs to be disclosed. F. Presumes that the life of a company can be divded into periods for reporting purposes. G. The princlple that assumes transactions and events can be expressed in money units. H. The pincigle that requires a business to be accounted for separalely from its owner. 1. The principle that revenve is recorded when eamed through providing goods or service

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