Below is a list of concepts in the left column, with a description of the concept in the right column. There are more descriptions provided than concepts. Match the description of the concept to the concept.

1. ___ Cash-basis accounting.	a. Monthly and quarterly time periods.
2. ___ Fiscal year.	b. Accountants divide the economic life of a business into artificialtime periods.
3. ___ Revenue recognition principle.	c. Efforts (expenses) should be recognized in the period in which a company uses assets or incurs liabilities to generate accomplishments (revenues).
4. ___ Expense recognition principle.	d. Companies record revenues when they receive cash and record expenses when they pay out cash.
1. ___ Cash-basis accounting.	e. An accounting time period that is one year in length.
	f. An accounting time period that starts on January 1 and ends on December 31.
	g. Companies record transactions in the period in which the events occur.
	h. Recognize revenue in the accounting period in which a performance obligation is satisfied.