Question: Match the assumption, principle, or constraint description with the appropriate term by placing a, b, c, d, e, and f on the appropriate line. a.

Match the assumption, principle, or constraint description with the appropriate term by placing a, b, c, d, e, and f on the appropriate line.
a. Cost principle of measurement _____ Benefits of the information produced by an accounting system must be greater than the costs
b. Going concern assumption _____ Amounts may be ignored if the effect on a decision maker's decision is not significant
c. Stable monetary unit assumption _____ Transactions are recorded based on the cash amount received or paid
d. Economic entity assumption _____ Ignore the effects of inflation in the accounting records
e. Cost-benefit constraint _____ Assumes that a business is going to continue operations indefinitely
f. Materiality constraint _____ A business must keep its accounting records separate from its owner's accounting records.

Step by Step Solution

3.51 Rating (171 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

a Cost principle of measurement e Benefits of the information p... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

1211-B-C-A-O(1000).docx

120 KBs Word File

Students Have Also Explored These Related Cost Accounting Questions!