Match the terms with the definitions a Full disclosure b Materiality c Consistency d Conservatism 1 A company must perform strictly proper accounting only for items that are significant to the businesss financial statements 2 Reporting the least favorable figures in the financial statements 3 A businesss financial statements must report enough information for users to make knowledgeable decisions about the company 4 A business should use the same accounting methods and procedures from period to period

Question: Match the terms with the definitions. a. Full-disclosure b. Materiality c. Consistency d. Conservatism ____ 1. A company must perform strictly proper accounting only for

Match the terms with the definitions.
a. Full-disclosure
b. Materiality
c. Consistency
d. Conservatism
____ 1. A company must perform strictly proper accounting only for items that are significant to the business’s 2. Reporting the least favorable figures in the 3. A business’s must report enough information for users to make knowledgeable decisions about the company.
____ 4. A business should use the same accounting methods and procedures from period to period.

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