Question

Listed below are nine terms and definitions associated with the FASB’s conceptual framework.
Terms
1. Completeness
2. Comparability
3. Neutrality
4. Understandability
5. Cost effectiveness
6. Verifiability
7. Decision usefulness
8. Economic entity assumption
9. Going concern assumption
Definitions
a. Requires the consideration of the costs and value of information.
b. Ability to make comparisons between firms.
c. Comprehending the meaning of accounting information.
d. Including all information necessary to report the business activity.
e. The business will last indefinitely unless there is evidence otherwise.
f . Recording transactions only for the company.
g. Implies consensus among different measures.
h. Accounting should be useful in making decisions.
i . Accounting information should not favor a particular group.

Required:
Pair each term with its related definition.



$1.99
Sales0
Views86
Comments0
  • CreatedJuly 15, 2014
  • Files Included
Post your question
5000