Question

The lettered items that follow represent a classification scheme for the concepts of financial accounting. Match each numbered term in the list that follows with the letter of the category in which it belongs.
a. Qualitative characteristics
b. Financial statements
c. Objective of accounting information
d. Accounting measurement considerations
e. Accounting processing considerations
f. Decision makers (users of accounting information)
g. Accounting conventions
h. Business activities or entities relevant to accounting measurement
1. Conservatism
2. Verifiability
3. Statement of cash flows
4. Materiality
5. Faithful representation
6. Recognition
7. Cost-benefit
8. Predictive value
9. Business transactions
10. Consistency
11. Full disclosure
12. Furnishing information that is useful to investors and creditors
13. Specific business entities
14. Classification
15. Management
16. Neutrality
17. Internal accounting control
18. Valuation
19. Investors
20. Completeness
21. Relevance
22. Furnishing information that is useful in assessing cash flow prospects



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  • CreatedMarch 26, 2014
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